Meta is constantly improving the platform’s quality and use for its users. Still, the platform’s ability to create profit for its corporate customers is paramount. While all of Meta’s platforms, Facebook and Instagram, have billions of users, Apple’s ad tracking modifications on iOS negatively impacted the company’s ad revenue, and a significant decline in digital expenditure was seen. Meta has created a new product organization to organization paid features for Facebook, Instagram, and WhatsApp, to generate new revenue streams.
Meta is adding Paid Features to Facebook and Instagram
Pratiti Raychoudhury, formerly the chief of research at Meta, will lead the New Monetization Experiences group. Meta’s VP of monetization said, monetization to the company’s ad business:
“I think we do see opportunities to build new types of products, features, and experiences that people would be willing to pay for and be excited to pay for.”
Facebook users must pay to access some exclusive material and virtual stars. Additionally, WhatsApp charges companies to communicate with their clients. Further, Instagram has revealed that it will soon offer premium memberships.
Jón Hegamen said several other social media networks have already begun providing paid services and memberships.
“We’re obviously paying attention to what’s going on in the industry. “And I think there are multiple companies that have done interesting things in this space that I think hopefully we can learn from and emulate over time.”