Meta, formerly known as Facebook, has launched a new subscription service in the United States. The new offering is called Meta+ and is a way for users to access exclusive content and features that are not available to non-subscribers. The move is part of Meta’s larger efforts to diversify its revenue streams and reduce its dependence on advertising.
Meta+ is priced at $10 per month and will offer users access to a range of benefits, including exclusive live events, early access to new products, and a dedicated customer support team. The service is available for both Facebook and Instagram users, and users can sign up for a free trial before committing to a subscription.
One of the key features of Meta+ is access to a range of exclusive live events, including concerts, sporting events, and other entertainment experiences. Meta has already secured partnerships with a number of high-profile artists and athletes, and more are expected to be announced in the coming weeks and months.
In addition to live events, Meta+ will also offer early access to new products and features. This means that subscribers will be among the first to try out new features as they are rolled out, giving them a competitive advantage over non-subscribers.
Finally, Meta+ will offer a dedicated customer support team that is available 24/7 to assist subscribers with any issues they may encounter. This is a significant improvement over the standard customer support that is available to non-subscribers, which can often be slow and unresponsive.
The launch of Meta+ is an important step for Meta as it seeks to diversify its revenue streams and reduce its dependence on advertising. The company has been facing increasing pressure from regulators and the public over its data practices and its impact on society, and it has been exploring ways to reduce its reliance on advertising as a result.
One of the biggest challenges facing Meta in this regard is the fact that advertising currently accounts for the vast majority of its revenue. In the third quarter of 2021, advertising revenue accounted for 99% of Meta’s total revenue, with the remaining 1% coming from other sources such as hardware sales and payments.
By launching a subscription service like Meta+, Meta is hoping to create a new revenue stream that is not dependent on advertising. This will not only help to reduce the company’s dependence on advertising but will also give it more flexibility in terms of how it monetizes its user base.
At the same time, Meta+ is also likely to drive user engagement and retention, as users who subscribe to the service will have access to a range of exclusive content and features that are not available to non-subscribers. This could help to strengthen Meta’s position in the market and make it more competitive against other social media platforms.
Overall, the launch of Meta+ is an important development for Meta as it seeks to diversify its revenue streams and reduce its dependence on advertising. The service is likely to drive user engagement and retention, while also giving Meta more flexibility in terms of how it monetizes its user base. While it remains to be seen whether Meta+ will be successful in the long term, it is certainly a step in the right direction for a company that is facing increasing pressure from regulators and the public over its data practices and impact on society.