Get ready to pay for added features of WhatsApp, Facebook & Instagram: Reports
"Any new product will be complementary to our existing ads business," a spokesperson from Meta told Reuters on Thursday.
Social networking giant Meta is mulling more paid features for its platforms Facebook, Instagram and WhatsApp. It will also set up a new group for these new features, Reuters reported.
"Any new product will be complementary to our existing ads business," a spokesperson from Meta told Reuters.
The move will put Meta on the same course as other social media giants including Snap Inc and Twitter that launched paid tiers to unlock additional features.
The news of identifying and building more paid features for WhatsApp, Facebook and Instagram was first reported by the Verge on Wednesday.
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The group now called New Monetization Experiences, will be headed by Pratiti Raychoudhury, who was the former head of research at Meta.
Speaking to the Verge, John Hegeman, Meta’s VP of monetization overseeing the group, said that the company has no plans to let users pay to turn off ads and is committed to growing the ads 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,” Hegeman added.
The top Meta executive pointed out that in the long term, the company saw paid features becoming a more meaningful part of its business.
The Verge reported on Tuesday that the revenue of Meta Platforms' revenue “almost entirely comes from ads”. While Meta has several paid features already across its apps, the company giant had not made charging users a priority until now.