Facebook, Instagram, and WhatsApp may soon get specialized paid features. Meta is forming a new division that will focus exclusively on paid features for the company’s apps. This is stated in a memo reported by The Verge. This division will be called New Monetization Experiences.
While Facebook and Instagram already have several creator-focused paid features, such as Stars, paid events, and different subscription products, it looks like Meta’s new division will be separate from that.
It’s not yet clear what paid features might emerge from this effort, but Meta’s vice president of monetization John Hegeman told The Verge that the company is keeping a close eye on its industry peers. Twitter, Snapchat, and Telegram recently launched monthly subscriptions that unlock exclusive features and other in-app benefits for paid subscribers.
Meta may find new sources of revenue with the same paid subscriptions. Especially if they remove ads from the apps. The company’s multibillion-dollar ads business has been hit hard lately because of iOS privacy changes and the economic downturn, which has also affected its competitors.
