More paid features on Facebook and Instagram? Meta to set up new group for creating products
Story highlights
Snap Inc and Twitter Inc, which are Meta's competitors, have already launched paid tiers to unlock additional features
The Verge reported that Facebook and Instagram will get more paid features as Meta is setting up a new group that will focus on creating products.
A company spokesperson told News agency Reuters that "Any new product will be complementary to our existing ads business."
Snap Inc and Twitter Inc, which are Meta's competitors, have already launched paid tiers to unlock additional features.
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John Hegeman, Meta's head of ads and business products, said in an interview with the Verge, that the company is committed to growing the ads business and has no plans to let users pay to turn off ads.
Highlighting that features becoming a more meaningful part of its business, Hegeman said Meta's vision aligns with its long-term goals.
Verge reported that the groups will be called New Monetization Experiences and led by Meta's former head of research Pratiti Raychoudhury.
Just a few weeks before a September 20 deadline for Meta CEO Mark Zuckerberg to submit to depositions, Facebook’s corporate parent has reached a tentative settlement in a lawsuit alleging the world’s largest social network service of allowing access to the personal information of about 87 million users to be fed to Cambridge Analytica.
In 2018, the firm was accused of supporting Donald Trump’s victorious presidential campaign to its ties with political strategist Stephen Bannon.
(With inputs from agencies)
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