Meta today owns three very popular messaging apps and social media platforms WhatsApp, Instagram, & Facebook. In a vision to grow its ad business further in the future, Meta will be looking at more ways to add possible paid features across WhatsApp, Facebook, & Instagram all of three which individual has over one billion active users and collectively has over five billion monthly active users.
A new report from The Verge says that Meta has passed an internal memo to employees last week which says the company is setting up a product organization to identify and build “possible paid features” for Facebook, Instagram, & WhatsApp. Let’s take a look at the details.
Facebook reported a 1 per cent drop in revenue to $28.8 billion, a 1 per cent decrease from $29.07 billion in the second quarter of 2021. Overall, Meta’s profit fell 36 per cent to $6.7 billion in the quarter.
Facebook currently allows group administrators to charge members for accessing their exclusive content & users can also buy virtual stars to send to creators. Certain WhatsApp businesses also charge customers for messaging the account. Instagram also recently announced that creators could charge a subscription for accessing the exclusive content.