Meta wants to add additional paid services and features to the three most popular apps like WhatsApp, Facebook and Instagram. In any case, this comes out in an internal memo sent to employees last week and passed on by our colleagues at the company. Boundary.
On this occasion, he created a brand new section called Meta. New Monetization Experiences. At the head we find Pratiti Raychoudhury, Meta’s former head of research. This new branch is Meta’s Creation of paid features for social apps.
It has to be said that the group’s revenues took a huge hit after Apple’s ad prevention tracking tool was implemented in iOS 14.5. According to a study published by analytics firm Lotame in April 2022, Facebook’s losses this year are estimated at 11.8 billion euros. At the same time, in July 2022, we learned that Facebook’s turnover dropped significantly in the 1st quarter of 2022, a first in the history of the social network. Thus, the platform’s net profit decreased by 36% compared to the same period of 2021.
Meta seeking other sources of income
Knowing this, it’s not surprising to see Meta rush to find other sources of income. “I think we’re seeing opportunities to create new kinds of products, features, and experiences that people are willing and happy to pay for.” Meta’s vice president of monetization, John Hegeman, told The Verge.
Until then, Meta had not made user billing a priority. However, the drop in advertising revenues caused the company to reconsider its strategy. Also, if John Hegeman is to be believed, these paid functions could represent a significant part of Meta’s business in the future. “In a five-year horizon, I think it could really shake things up and make a pretty significant difference.” assured.
Meta has already added paid features to its apps, such as paid subscriptions on Instagram or the Business version of WhatsApp, not to mention Facebook group admins who can charge for access to their content. For now Meta did not go into details about these upcoming paid features in its flagship apps.