Meta launches ($11.99 Web) and ($14.99 Apple iOS) subscription service in US
Hello Deepdives commumity! Have you noticed the stiff competition ongoing among tech companies this days and how everyone wants to meet up with the increasing expenses that the companies are incurring on a daily basis. Good evening!
Meta tech company is gradually following the footsteps of Elon Musk's Twitter in order to generate additional revenues for the company. Just a few days ago, Meta Facebook announced that it'll layoff some of her personnel to ease pressure on the expenses the tech company incur on its day-to-day operations.
Meta Platforms Inc (META.O) on Friday launched its subscription service in the U.S., which would allow Facebook and Instagram users pay for verification in the same vein as Elon Musk-owned Twitter.
The Meta Verified service will give users a blue badge after they verify their accounts using a government ID and will cost $11.99 per month on the web or $14.99 a month on Apple's iOS system and Google-owned Android, Meta said in a statement.
The service, which Meta said it was testing in February, follows in the footsteps of Snap Inc-owned (SNAP.N) Snapchat as well as messaging app Telegram and marks the latest effort by a social media company to diversify its revenue away from advertising.
Since the idea is to generate additional revenues apart from incomes from advertising product to me is a good move for the tech companies. Although the subscription services of Meta are cheaper than that of Elon Musk's Twitter, it'll help them achieve more goals in terms of service provision.
It should be noted that in November when Elon Musk took over Twitter, he changed the arrangement and paid other non-government functionaries to join in the Twitter blue account subscription, although Musk created other colors to differentiate between the accounts of politicians, celebrities and the likes.
The initial launch of Twitter Blue in November had led to a surge in users impersonating celebrities and brands on the platform, which prompted the company to halt the service and reintroduce it with different colored checks for individuals, companies and governments.
Meta's subscription will also bear the blue color account to indicate those that have subscribed on Facebook and Instagram. This might cause some controversy among users, but it's a choice to subscribe or remain unsubscribed.