Meta launches paid subscriptions for Instagram, Facebook, WhatsApp / Photo: Kirill KUDRYAVTSEV - AFP
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NYSE - LSE
Meta launches paid subscriptions for Instagram, Facebook, WhatsApp
Meta on Wednesday launched paid subscription plans for its flagship apps, marking a major push by the tech giant to diversify beyond its longtime reliance on advertising revenue.
Meta head of product Naomi Gleit announced the move in a video posted to Instagram, saying she was rolling out Facebook Plus, Instagram Plus and WhatsApp Plus globally, with more plans in the works for businesses, creators and artificial intelligence products.
The move comes as Meta faces investor scrutiny over its massive AI spending. The company has projected capital expenditure -- mainly for AI data centers -- of between $125 billion and $145 billion for the year.
Meta's stock rose nearly three percent on the news.
According to reports, Instagram Plus and Facebook Plus will be priced at $3.99 per month, while WhatsApp Plus will cost $2.99 per month.
Instagram Plus and Facebook Plus will unlock extra features including better analytics, story rewatch statistics, wider audience reach and profile customization options.
WhatsApp Plus focuses on personalization, including premium stickers, custom ringtones and app themes.
Gleit said the company intends to eventually consolidate its various offerings under a single brand called Meta One.
Meta in 2023 launched ad-free, paid versions of Facebook and Instagram in Europe to comply with EU data privacy legislation, giving users a choice between a free, ad-supported experience and a paid, ad-free one.
M.Fischer--AMWN