Raft of “Paid Features” Proposed to Buoy Facebook and Instagram’s Revenues in Face of Ad Revenue Decline

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In case you haven’t heard, Facebook and Instagram parent company Meta is having a hard time of it lately.

smartphone home screen with app icons of facebook and instagram
Smartphone home screen with Facebook and Instagram app icons on the display. Photo by Jeremy Bezanger

Not only is the metaverse extremely expensive, but also ad revenues for their core properties are on the decline from recent reports.

And now the company wants to add paid features to its most popular services in an effort to boost revenues and, we guess, somehow fund its expansion into other areas (the aforementioned metaverse being one).

Meta’s VP of monetization John Hegeman told The Verge in an interview, “I think we do see opportunities to build new types of products, features, and experiences that people would be willing to pay for and be excited to pay for.”

If you think that’s a vague statement, you’re not the only person. Honest guesses, however, peg the features as being something aimed at increasing outreach for brands and creators a la the recently rolled out subscription feature and direct messaging options. Meta isn’t the only one attempting this kind of thing, either, as The Verge reports multiple other services are introducing Patreon-esque features for their creators and their followers. Whether any of it will be enough to replace Meta’s huge ad revenue numbers is another issue entirely but that’s something we’ll have to wait and see and tell you about it after everything unfolds.

Would you be willing to access certain features or benefits from Facebook or Instagram? Have you paid for advertising on the platforms in the past? Let us know your thoughts on Meta’s proposed paid features in the comments.

We have some more photography news you might like over in our news section.

[The Verge]

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Kehl is our staff photography news writer and has over a decade of experience in online media and publishing and you can get to know him better here

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