Facebook, Instagram and WhatsApp could soon have specialized features available only to users willing to pay for them. Meta is forming a new division called New Monetization Experiences that will be solely focused on paid features for the company’s app, according to a memo reported byThe Verge.
Wile Facebook and Instagram already have a number of paid features that cater to creators, like Stars, paid events and various subscription products, it sounds like the new division at Meta will be separate from those initiatives. (Of note, Meta had pledged not to take a cut of creator earnings until 2023.)
It’s not clear what type of paid features might come out of the effort, but Meta’s VP of monetization John Hegeman told The Verge the company is keeping a close eye on its industry peers. Twitter, Snapchat and Telegram have all recently launched monthly subscriptions that unlock exclusive features and other in-app perks for paid subscribers.
Paid features could help Meta find new sources of non-advertising revenue. The company’s multibillion-dollar advertising business has taken a significant hit of late due to iOS privacy changes and an economic downturn that’s also affected its competitors.
