Meta (formerly Facebook) has launched a new paid subscription service, Meta Verified, for Facebook and Instagram users, which has generated a lot of buzz in the social media world. For a monthly fee of $11.99 (around Rs 990), users can authenticate their accounts and receive a verified badge, extra protection against impersonation, direct customer support, and increased visibility.
Mark Zuckerberg, the CEO of Facebook’s parent company Meta, announced that the service is aimed at increasing account authenticity and security and that it will initially be rolled out in Australia and New Zealand before being made available in the United States and other countries.
The move to introduce a subscription-based service is a response to the challenges faced by Facebook and Instagram’s traditional advertising model. The declining effectiveness of traditional advertising, combined with rising prices and increased competition from apps like TikTok, have made it difficult for Facebook and Instagram to maintain their revenue streams. Changes made by Apple to protect users’ privacy have also made it harder for Facebook to collect data and sell ads.
Meta’s move to introduce a paid subscription service is not a new phenomenon. Other social media platforms like Reddit, Snapchat, and Twitter have already started charging users for their services. In the case of Twitter, Elon Musk had attempted to introduce a similar service, but it was temporarily halted due to concerns about fake accounts. However, he resumed the initiative in December with a lukewarm response.
Meta Verified is not the only new feature being tested by Facebook and Instagram. They are also testing a new feature aimed at content creators, which could help boost their profiles on the platforms. However, the feature will only be available to those aged 18 and above, and verified profiles will not be affected.
The introduction of paid subscription services by social media platforms has raised questions about the future of these websites. As people become more aware of how websites collect their personal data, they may start to question whether these “free” websites are really free. Governments are also looking at how big websites like Facebook and Google work, which may lead to changes in the future.
Meta’s decision to invest heavily in virtual reality has also faced criticism, with some questioning whether it will be the next big thing online. Despite this, Meta’s stock price has gone up a bit in 2023 after falling by two-thirds in the previous year. In November, the company announced the biggest job cut it has ever had, with 11,000 employees being laid off.
The cost of Meta Verified will be $11.99 (around Rs 990) per month on the web and $14.99 (around Rs 1,240) per month on iPhones or Android phones, with the higher cost on phones due to the commission taken by Apple and Google. While the service is aimed at increasing account authenticity and security, it remains to be seen whether it will help Facebook and Instagram address their financial challenges over the long term.
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In conclusion, Meta’s new paid subscription service, Meta Verified, for Facebook and Instagram users is a response to the challenges faced by the traditional advertising model. While the service is aimed at increasing account authenticity and security, it remains to be seen whether it will help Facebook and Instagram address their financial challenges over the long term. With the future of these websites still uncertain, it is likely that we will see more changes in the coming years as governments and users continue to push for greater transparency and accountability in the online world.