Meta works on a subscription service for Facebook
The social network is working on the last details to launch a subscription service, also for Instagram
Facebook’s parent company, Meta Platforms Inc., is working out the final details of a subscription service called Meta Verified that will include additional perks and features, including Twitter-style account verification badges for those who pay.
The new subscription will cost $11.99 per month or $14.99, if purchased through the iOS app, and is primarily aimed at content creators.
In addition to a verification badge, the subscription includes “proactive account protection, access to account support, and increased visibility and reach,” a Meta spokesperson said in a statement reported by Bloomberg.
Meta CEO Mark Zuckerberg announced the new product via his Instagram channel. The option will be available on both Facebook and Instagram, but they will be separate subscriptions.
Subscription offers have become popular for social media companies in recent years as a way to diversify their businesses, which are heavily dependent on advertising.
Meta gets almost all of its revenue from advertising, but that business can be inconsistent and hit hard by the broader economy. The social network’s business was hit hard at the start of the pandemic, for example, and again last year during the war in Europe and rising inflation. Subscriptions offer a more consistent revenue stream.
(Reference image source: dlxmedia.hu, Unsplash)
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