Zoom COO Aparna Bawa says that Zoom is open to experimenting with transaction fees for its new OnZoom service targeting video delivered services like piano lessons.
“We still are watching and waiting to see what the economics look like,” said Zoom COO Aparna Bawa at WSJ Tech Live. “We want to make sure that the customer base that we’re serving finds it helpful, it’s priced at the right point, it’s beneficial to all,”
When asked about getting a cut of online video services Bawa said: “We’re not quite sure how that’s going to work. “For us, it’s a long game. The more and more we can build our user base and establish trust with folks like you, the more sort of legs we have as a company.”
OnZoom, currently in beta, is a service for paid Zoom users to create, host, and monetize events like fitness classes, concerts, stand-up or improv shows, and music lessons on the Zoom Meetings platform.
“We were humbled and inspired by all of the amazing ways the world adapted to a literal shutdown of in-person events amid COVID-19,” says Zoom product manager Aleks Swerdlow. “When business owners, entrepreneurs, and organizations of all sizes had to find some way – any way – to stay the course and continue providing services to their customers, many turned to Zoom. OnZoom simplifies that experience.”
In short, OnZoom is Zoom for paid events or services. It has the potential to vastly increase Zoom revenues by tapping into entrepreneurs and small businesses that want to provide a service specific to individuals or groups and not just give it away on YouTube. Think personalized Yoga training, tutors for your kids, computer support, and cooking classes personalized to you. It also includes event discovery features and can be used for free events as well.