Meta keeps on taking measures to make its platform more better and useful for users however one this that is of prime importance for businesses is the revenue generated through the platform. While Meta’s both platforms, Facebook and Instagram have billions of users however Apple’s ad tracking changes on iOS affected company’s ads business and a major pullback in digital spending was observed. Keeping in view this, Meta is working on new ways to make money and for this it has made a new product organization to identify possible paid features for Facebook, Instagram and WhatsApp.
The new group that is devised for this purpose, which tytwill be called New Monetization Experiences, will be led by Pratiti Raychoudhury, who was previously Meta’s head of research. While telling about the company’s ad business, Meta’s VP of monetization said:
“I think we do see opportunities to build new types of products, features, and experiences that people would be willing to pay for and be excited to pay for,” I Think we do see opportunities to build new types of products, features, and experiences that people would be willing to pay for.
“On a five-year time horizon I do think it can really move the needle and make a pretty significant difference.”
Will Paid Features for Facebook & Instagram make Platform Better?
Currently, Facebook charges users to access some exclusive content and virtual stars. Also, WhatsApp charges businesses for the ability to message their customers. Instagram has also announced that it will soon going to initiate paid subscriptions.
Since many other social media platforms have also started offering paid features and subscriptions, Jhon Hegamen said:
“We’re obviously paying attention to what’s going on in the industry. “And I think there are multiple companies that have done interesting things in this space that I think hopefully we can learn from and emulate over time.”