Wile Facebook and Instagram already have a number of paid features that cater to creators, like Stars, paid events and various subscription products, it sounds like the new division at Meta will be separate from those initiatives. (Of note, Meta had pledged not to take a cut of creator earnings .)
It’s not clear what type of paid features might come out of the effort, but Meta’s VP of monetization John Hegeman told The Verge the company is keeping a close eye on its industry peers. Twitter, Snapchat and Telegram have all recently launched monthly subscriptions that unlock exclusive features and other in-app perks for paid subscribers.
Paid features could help Meta find new sources of non-advertising revenue. The company’s multibillion-dollar advertising business has taken a of late due to iOS privacy changes and an economic downturn that’s also affected its competitors.
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