will bring the blue verification badge to Instagram and Facebook //
Meta, the parent company behind Facebook, introduced Meta Verified, a subscription service that allows users to obtain the highly-coveted blue verification badge for their Instagram and Facebook accounts. This can be achieved by verifying one’s identity and paying a monthly fee up to $15
How it works. Meta Verified is available now in Australia and New Zealand, with plans for expansion globally. This service allows users to verify their identity with government-issued ID cards. It offers several benefits, including improved protection against impersonation attacks and direct access to customer support.
Meta Verified costs $11.99 for a monthly subscription on the internet and $14.99 on iOS or Android devices. Meta CEO Mark Zuckerberg stated in a Facebook post that the new service is aimed at “increasing authenticity, security across all our services.”
Meta’s solution for declining revenues. Meta’s revenue has suffered from Apple’s stricter privacy settings on iOS. These changes limit the company’s ability track internet activity and have caused a decline in its revenue. Since its inception 15-years ago, the social media giant has never charged customers for any of its services. It is almost entirely funded by advertising. Apple’s decision is expected to result in a loss of over $10 billion in advertising revenue.
Meta responded by expressing its intention to create a subscription service that is valuable for creators, businesses and the larger community. Meta will expand access to verification as well as redefine the meaning of the verified badge in order to make it easier for people to trust that accounts they interact with are genuine.
Follow in the footsteps of Twitter. After Snap launched its subscription service last year and converted more than one million customers into paying customers, this move for Meta is a natural step. Elon Musk also revamped Twitter’s subscription site, TwitterBlue, to include a variety of features including the blue checkmark. Twitter Blue has been expanded to include India and Indonesia in recent months. According to The Information, around 180,000 accounts had registered for Twitter Blue as of mid-January.
Why we care. Advertisers who wish to connect with reliable and engaged audiences will benefit from increased authenticity and security.
Meta was also affected by Apple’s privacy restrictions, which limit the company’s ability track internet activity and have resulted in lost advertising revenue. Meta’s plan to create a subscription service that is valuable for creators, businesses and the community could lead to a new revenue stream and less dependence on advertising income. This could stabilize the company’s finances and provide a stable environment for advertisers.
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