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Facebook’s Parent Company Launches Meta-Verified Subscription Service for Account Verification

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Meta Platforms Inc., the parent company of Facebook, has unveiled its latest subscription service, Meta Verified, which will offer additional features including account verification badges to users who pay.

The subscription, primarily aimed at content creators, will cost between $11.99 to $14.99 per month and includes “proactive account protection, access to account support, and increased visibility and reach” according to a company spokesperson. The option will be available on both Facebook and Instagram but will be separate subscriptions.

Subscription services have become popular for social networking companies as a way of diversifying their business models that are primarily reliant on advertising. Companies such as Snapchat and Twitter have launched similar offerings, with account verification being a major selling point.

Meta makes the majority of its revenue through advertising, a business model that can be affected by economic conditions. The pandemic and rising inflation have previously impacted the company’s revenue streams. The subscription service will provide a more consistent revenue source.

However, it is uncertain whether users are willing to pay for services that have always been free. Twitter’s subscription offering has been slow to gain traction.

The most significant aspect of Meta’s subscription package could be its increased visibility. Users find it challenging to stand out on Facebook and Instagram even among their followers. The company has already started pushing users towards content they might find interesting, regardless of who they follow.

The subscription service will provide prominence in some areas of the platform, such as search, comments, and recommendations. Meta will require users to confirm their identity with a government ID to receive a verification badge. Unlike Twitter, which does not verify user identity via subscription, Meta will require verification.

The subscription product will first be tested in Australia and New Zealand, starting later this week.

Categories: Irish Tech News