Specialized features on Facebook, Instagram, and WhatsApp may soon be available only to users willing to pay for them. According to a memo obtained by The Verge, Meta is forming a new division called New Monetization Experiences that will be solely focused on paid features for the company’s app.
While Although Facebook and Instagram already have a number of paid features that cater to creators, such as Stars, paid events, and various subscription products, it appears that the new Meta division will be distinct from those initiatives.
(It’s worth noting that Meta had promised not to take a cut of creator earnings until 2023.)
It’s unclear what kind of paid features might result from the effort, but Meta’s VP of monetization, John Hegeman, told The Verge that the company is keeping a close eye on its peers in the industry.
Twitter, Snapchat, and Telegram have all recently launched monthly subscriptions that grant paid subscribers access to exclusive features and other in-app benefits.
Paid features could assist Meta in discovering new non-advertising revenue streams. The company’s multibillion-dollar advertising business has suffered recently as a result of iOS privacy changes and an economic downturn that has also impacted its competitors.