Meta to Launch Monthly Subscription; Here’s How Much it Will Cost

Facebook and Instagram proprietor Meta will launch a paid subscription service beginning at $11.99 a month permitting customers to confirm their accounts, CEO Mark Zuckerberg introduced Sunday, following the same transfer by Elon Musk at Twitter.

Meta Verified, which is able to roll out first in Australia and New Zealand this week, will let customers “confirm your account with a authorities ID, get a blue badge, get further impersonation safety in opposition to accounts claiming to be you, and get direct entry to buyer assist,” Zuckerberg said.

“This new feature is about increasing authenticity and security across our services,” he wrote in a press release posted to his Facebook account.

There could be no adjustments to accounts on Facebook and Instagram which can be already verified, the corporate stated, including that solely customers who’re over the age of 18 can be allowed to subscribe. The service shouldn’t be but obtainable to companies.

Musk’s preliminary makes an attempt to launch the same service at rival social media community Twitter final yr backfired wildly with an embarrassing spate of faux accounts that scared advertisers and solid doubt on the positioning’s future.

He was pressured to briefly droop the trouble earlier than relaunching it to muted reception in December.

Meta’s announcement comes because the social media behemoth grappled with monetary difficulties over the previous yr, saying in November that it might lay off 11,000 staff or 13 p.c of its employees — the most important employee discount within the firm’s historical past.

The layoffs are a part of a wave of redundancies introduced by Silicon Valley giants in current months, because the as soon as unassailable sector faces financial gloom.

Meta can be beneath strain for making an enormous gamble on the metaverse, the world of digital actuality that Zuckerberg believes would be the subsequent frontier on-line.

Investors final yr punished Meta, sending the corporate’s share worth down by an astonishing two thirds over 12 months, however the inventory has recovered a few of the floor in 2023.

Zuckerberg has remained optimistic about Meta’s future.

Earlier this month the corporate reported its first annual gross sales drop because it went public in 2012, however the fall was much less brutal than anticipated.

The firm additionally just lately introduced that the variety of each day customers on Facebook hit two billion for the primary time.

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(This story has been edited by News18 employees and is printed from a syndicated news company feed)