Twitter unveiled its subscription service, Twitter Blue, in December 2020. It received mixed reactions from the masses. In a similar move, Meta, the parent company of Facebook, has launched a new subscription service called Meta Verified. It offers users a blue checkmark on their Instagram and Facebook accounts for up to $15 per month. The service is priced at $11.99 per month on the web or $14.99 on Apple’s iOS and will allow users to verify their identity using their government-issued ID cards. Meta further stated that the subscription service would also offer “increased visibility and reach,” enhance protection against impersonation attacks and provide subscribers with direct access to customer support.
CEO Mark Zuckerberg explained that the subscription service is “about increasing authenticity and security across our services.” The new service will roll out in New Zealand and Australia this week and will be extended to more countries soon.
Meta has traditionally opted not to charge its customers for most of its services in over 15 years since its founding. However, the company’s revenues have taken a hit in recent years following Apple’s decision to introduce stringent privacy changes on iOS. The move diminishes the social firm’s ability to track users’ internet activities, and Meta has predicted that it cost the company more than $10 billion in lost ads revenue in 2022. With the launch of Meta Verified, the company wants to implement its plan towards building a subscription offering that is valuable to its entire user base.
The blue checkmark was previously reserved for public figures such as celebrities, sports athletes, and journalists. However, Meta’s subscription service aims to expand access to verification, so users can actually trust authentic accounts. The announcement follows the launch of Snap‘s own subscription service in 2022, which has reportedly already converted over a million users into paid customers. As mentioned previously, Elon Musk has also revamped Twitter’s subscription service to offer a range of additional features, including the blue checkmark.
In light of Meta’s ambitions, the company has faced a harsh market response to its metaverse vision. It has pledged to cut down on its spending on metaverse projects and is reportedly planning another layoff round soon. Despite these challenges, Meta’s shares have rebounded in recent weeks, showing that the company remains resilient.
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