Meta to Set up Group for Paid Features on Instagram, Facebook, and WhatsApp

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Meta to set up group for paid features on Instagram, Facebook, and WhatsApp

According to a spokesperson for the company, Meta Platforms Inc. is in the process of establishing a new group that will concentrate on the development of monetizable products and features for its Facebook, Instagram, and WhatsApp platforms. These products and features will be available for purchase.

According to a statement provided to Reuters by a spokesperson for the company, “Any new product will be complementary to our existing ads business.”

By taking this step, Meta would be following in the footsteps of firms like Snap Inc. and Twitter Inc., both of which have introduced paid tiers to unlock additional capabilities.

The development was initially reported by The Verge.

In an interview with the Verge, Meta’s head of ads and business products, John Hegeman, stated that the firm has no intentions to allow users to pay to turn off advertisements and that the company is devoted to building the advertisements business.

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According to what Hegeman told Verge, the company anticipates that in the long term, premium features will become a more substantial element of its business.

As concerns about the economy and increased pressure from competitors weighed down ad sales, Meta experienced its first-ever quarterly decline in revenue last month.

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Pratiti Raychoudhury, who served as the head of research at Meta in the past, is going to be in charge of the team that will be known as New Monetization Experiences.

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