Meta is going to test a monthly subscription service, named Meta Verified in Australia and New Zealand this week. This service allows users to verify their accounts with a government-issued ID and obtain a blue badge as the result. These verified accounts in Instagram and Facebook will enjoy extra protection against impersonation so that no one else can pretend to be them to post content. Meta Verified costs $11.99 monthly on the web or $14.99 on iOS and Android. The service may expand to other countries later. This move by Meta reminds us the recent trend of traditionally free apps offering subscriptions. Twitter launched Twitter Blue, a similarly-priced subscription service for verified accounts. Snapchat Plus gives users access to exclusive features such as longer story expiration and custom notification sounds, at $3.99 per month. It is clear that finding new revenue streams is important for social media companies.
Why it matters: Facebook has close to 3 billion users while Instagram has about 2 billion users. While most people do not need a verified account, a small percentage of paid users may still provide much revenue.
Further Possibilities
1. A subscription service that allows social media users to access exclusive content from influencers and brands.
2. Have online fan clubs organized by the celebrities themselves
3. Enable large scale surveys of real experts worldwide
4. Enable easier identification of deepfake of celebrities
5. Develop VR experiences based on verified accounts using Meta's VR capabilities
