Meta introduced their premium social media subscription model for content creators.
Forbes claims Following Twitter Blue's lead, Meta has unveiled a new premium subscription plan for Facebook and Instagram. Users of Facebook and Instagram will have to pay $15 per month for the subscription service, Meta Verified, on mobile devices. Twitter Blue, in contrast, charges $8 per month. What does it offer, for whom, and why did Meta introduce a premium social network subscription model?
In order to help "up-and-coming creators" grow their fan base, Meta Confirmed is targeted at them, according to an official Meta blog article. Also, although the service costs $15 on mobile devices, web users will just have to pay $12 each month. Those who subscribe receive a "verified badge" similar to the Twitter Blue checkmark and have their accounts confirmed using official identification.
Users who have completed the Meta Verification process also benefit from priority account monitoring for imposters and other dangerous users who might target content producers. In order to expand your audience, the membership also gives your posts and account "greater visibility and reach." For support-related difficulties, they'll also have "access to a real person." Finally, "special features" for the Verified subscriber's personal expression.
Why are subscription services being implemented on all of these platforms at once?
The Meta Verified programme is comparable to Snapchat's and Twitter's subscription-based services, Snapchat+ and Snapchat Blue. The introduction of premium services by Twitter signalled a change in social media income structures. Social media's primary source of income is advertising. For instance, Forbes claims that of Facebook's $116.6 billion in income in 2022, $113 billion came from adverts.
antitrust investigation into Apple
Apple's decision to let iOS users opt out of having their behaviour tracked by apps had a significant negative impact on Meta's revenue. Governments are now taking tougher measures against big tech's practises of tailored advertising.
The Data Protection Commission (DPC) of Ireland penalised Meta more than $400 million in January 2023 for its tailored advertisements. In addition, the DPC is looking into a recent data leak on Twitter and checking the organisation for data security compliance.
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