According to recent reports, Meta is developing some brand new premium services for its Facebook, Instagram, and WhatsApp customers.
According to The Verge, Pratiti Raychoudhury, formerly the chief of research at Meta, has launched a new team within the firm dubbed New Montezation Experiences. According to an internal document obtained by the outlet and delivered to staff last week, the firm will be making its first push into developing paid services across all three of its primary social programs.
John Hegeman, Meta’s vice president of monetization and the man in charge of the new division, has confirmed the company’s continued concentration on the advertising market. Ads still bring in the bulk of Meta’s revenue, but the company is banking on the success of its paid services to boost its bottom line.
‘I think we do see the potential to build new types of goods, features, and experiences that people would be ready to pay for and be thrilled to pay for,’ Hegeman added.
Met sees premium features as a growing part of its business, “On a five-year time horizon I do think it can really move the needle and a pretty significant difference,” while he has not disclosed what paid additions Meta is hoping it brings forward for the three apps.
Meta is just the latest software to start putting more emphasis on monetization. Recently, both TikTok and Twitter have been experimenting with premium membership options.
To add on, Mark Zuckerberg announced “interoperable Subscriptions: we’re allowing creators to provide their paying subscribers on other platforms access to subscriber-only Facebook Groups. Our goal is to help as many individuals as possible be paid for their Reels, live, or VOD videos on Facebook, so we’re making Facebook Stars available to all qualified creators.
Artists can now cross-post their Instagram Reels to Facebook and monetize them there as well, and we’re expanding our Reels Play Bonus program to include additional creators on Facebook very shortly. We’re experimenting with a central hub on Instagram where creators can get discovered and compensated and where businesses can announce new opportunities for collaboration, and we’re calling it the Creator Marketplace.
