Dented by its failing ad revenue business after Apple released its new iOS privacy changes, Meta is now said to be setting up a team that will be help build new paid features for Facebook, WhatsApp and Instagram apps. The new division, likely to be called as New Monetization Experiences, is said to be led by Pratiti Raychoudhury who previously headed the research department at Meta.
According to a report by The Verge citing an internal memo, Meta is building a new product organisation called New Monetization Experiences that will build “possible paid features” across its three apps- Facebook, Instagram and WhatsApp. While there are no details on these paid features, company’s VP of monetisation, John Hegeman told the news website that Meta is committed to growing the ads business and has no plans to let users pay to turn off ads.
Meta’s new monetisation drive comes after the company suffered a loss in revenue in the June quarter for the first time since 2007. Facebook reportedly saw a one percent drop in revenue to $28.8 billion in the second quarter of 2021. The overall profit of Meta fell 36 percent to $6.7 billion in the quarter.
Facebook currently allows group administrators to charge members for accessing their exclusive content and users can also buy virtual stars to send to creators. Certain WhatsApp businesses also charge customers for messaging the account. Instagram also recently announced that creators could charge a subscription for accessing the exclusive content.
Not only Meta, other social media apps like TikTok and Twitter are also testing similar paid features. TikTok is testing paid subscriptions for creators while Twitter has launched paid Super Follows. Snapchat offers Snapchat Plus subscription that gives users early and exclusive access to features. Telegram also this year launched its paid subscription that offers exclusive access to features like faster downloads, maximum file upload of up to 4GB and more.