What we know about Facebook and Instagrams paid formula announced

What we know about Facebook and Instagram’s paid formula announced by Mark Zuckerberg Nice matin

Tests in Australia and New Zealand

The formula, which will debut in Australia and New Zealand this week, is similar to that implemented by Elon Musk on Twitter, with identity verification services and benefits like “direct access to customer service.”

“The idea is to improve the authenticity (of profiles and therefore exchanges, ed.) and the security of our services,” specified Mark Zuckerberg in a message shared on his Instagram channel and Facebook account.

More visibility for those who pay

On Facebook and Instagram, followers have a badge that shows their identity has been verified, as well as protections for their account (including against impersonation), access to customer service, and increased visibility,” a spokesman for Meta said.

Content from creators who subscribe to Meta Verified is shared more widely and appears at the top of search results and recommendations.

Membership is reserved for individuals and professionals over the age of 18 – not open to corporate accounts.

The end of everything free

Launched in 2004, the social network’s slogan has long been “It’s free and (it always will be)”.

Facebook has thus established the dominant model of large online platforms: users use free services that collect personal information about them in order to address them with personalized advertising.

Celebrated by advertisers ranging from big brands to small businesses, Google and Meta have quickly become the dominant players in the industry, earning tens of billions of dollars each year.

But in 2022, Meta saw its ad revenue fall for the first time since the California group went public in 2012.

Tiktok’s competition

Facebook alone has reached two billion daily active users on the platform.

But between inflation eating away at advertisers’ budgets and stiff competition from apps like TikTok, these users aren’t reporting as much to Meta as they used to.

The company is also suffering badly from its neighbor Apple’s regulatory changes, which limit social networks’ ability to collect user data to sell targeted advertising space.

These factors have already prompted other networks, from Reddit to Snapchat, to launch paid plans.

Offer similar to Twitter

Twitter was acquired by Elon Musk in the fall and launched “Blue,” a subscription to authenticate his account, prioritize his tweets, and see fewer ads, among other things.

Blue and Meta Verified do not cost the same price depending on whether the subscription is taken out on the web or in the mobile application, since the commissions are charged by iOS (Apple) on iPhones and Google on smartphones powered by the system Android- Operation .

Users therefore pay $11.99 per month for Meta Verified on the web or $14.99 per month for iOS or Android.

Meta implemented a massive redundancy plan in the fall, cutting 13% of its workforce, and Mark Zuckerberg indicated earlier this month that he wants fewer “middle-level” managers.

2023 will be the year of “efficiency,” he promised, remarks welcomed by stock market investors.