Meta plans to add paid features to Facebook, Instagram, and WhatsApp

Meta is currently organizing a particular product that will have possible paid features for the company’s applications, which are Facebook, Instagram and WhatsAppas reported by Engadget.

The company’s employees received an internal note providing for the establishment of a new division, the New monetization experiences. Former head of research Pratiti Raychoudhury will lead this group.

The company’s vice president of monetization revealed in an interview for The Verge that the company undertakes to improve its advertising activity. He added: ” I think we see opportunities to create new types of products, features and experiences that people would be willing to pay for and excited to pay for. “.

However, the executive did not disclose or comment on the company’s decision to add paid features to all three apps.

These platforms already have several paid features like Stars, Paid Events, Subscriptions and more, but only now the company has decided to prioritize them by adding more options and features. . According to Hegeman, these features will help business operationsbecause they can make a difference to what the company currently knows.

In a Facebook post last June, CEO Mark Zuckerberg said 2024 will be the year the company will focus on adding more ways for various platform creators to make money.

The drop in Meta revenue

The divisionNew Monetization experiencesand the decision to add more paid features to those platforms could be Meta’s move after Facebook alone saw a revenue drop of more than $ 28.8 billion in its second quarter, amid analyst forecasts indicating that the third quarter could have a much worse result.

Meanwhile, the entire company lost 36%, costing $ 6.7 billion. The Metaverse department also lost $ 2.8 billion in the same quarter.

Despite all of this, Facebook’s daily users continue to grow 3% to 1.97 billion, for a total of 2.88 billion users combined for Facebook, Messenger, Instagram and WhatsApp, a 4% increase over the previous year. last year.

Several platforms with paid features

Applications that offer subscriptions and other paid features to their users have started to multiply in recent years.

Twitter announced the launch of Super Follows last year, where followers will be charged for additional and exclusive content. Tiktok also launched subscriptions for LIVE creators last May, which can generate recurring revenue through payments from their fans. Finally, Snapchat also launched a subscription tier that earned a million subscribers this month, with $ 7.3 million in revenue in the first 30 days of launch.

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