Meta is looking to introduce a paid add-on option after losing the capabilities of its ads business due to Apple’s latest ad tracking policy. Meta is now reportedly creating a new division by the name of ‘New Monetization Experiences,’ which will be in charge of developing and implementing new ways of generating revenue for the tech giant.
Meta is currently making up for the huge amounts of money that it has lost due to reduced ad spend, as well as in the process of investing into the Metaverse. As a result, the company has halted some its major projects, sales, and partnerships. These include the Smartwatch project, sales of the Portal home speaker device, special content partnerships with publishers and writers for the Bulletin newsletter project, and development of new podcast and social audio tools. In addition to that, Meta has also delayed production of its long-awaited AR glasses.
Executing various revenue streams is, therefore, a wise move and could spark interest among Instagram and Facebook users to spend on exclusive paid features. Looking at the success of Snapchat and Twitter with their Snapchat+ and Twitter Blue subscriptions, perhaps things could work out the same way, or even better, for Meta too.