Meta Verified shows the company is running out of ideas

1 year ago

New Meta Subscription the service looks pretty familiar. For $11.99 to $14.99 per month, Instagram and Facebook users will get a blue “verified” mark, access to improved security features, and greater search visibility. Their comments will also take precedence.

The package strongly resembles the Twitter Blue subscription service launched by new owner Elon Musk, who has been actively trying to find ways to monetize his platform – most recently by telling users that they won’t be able to use text-based two-factor authentication unless they subscribe.

Meta CEO Mark Zuckerberg announced Meta Verified in a message to his instagram channel on February 19, stating that the service, which will first be rolled out in Australia and New Zealand, “is designed to enhance the authenticity and security of our services.”

While the move is not entirely uncharacteristic of Meta, analysts say it hints at a lack of innovation at the social media giant, which has laid off more than 11,000 employees since late last year and spent billions pushing its way into the metaverse. , technology without a clear business model.

“Meta has always had copy in its DNA – Instagram Reels is just one of a long list of standout examples, so it’s no surprise that seeing Twitter offer basic functionality as a premium service, Zuckerberg is trying to do the same. says Tama Leaver, Professor of Internet Studies at Curtin University in Australia. “Meta’s attempt to copy Twitter’s subscription model shows a distinct lack of new ideas…Meta has lost staff and is spending money building a metaverse that no one seems to be interested in right now.”

While Meta has emphasized the security aspects of its subscription product, the fact that subscribers will get more visibility on the company’s platforms marks a significant change for users.

Twitter’s attempts to force users to pay for features, including promoting its algorithms more actively, have been met with widespread criticism, with many threatening to leave the platform, although there is no reliable data on how many people have followed them.

However, Snapchat and Discord have also introduced paid subscription tiers for users without a similar level of outrage, suggesting that Twitter Blue’s dislike may stem from Musk himself and wider concerns about the platform.

“The Meta has seen Snapchat, Discord and Twitter launch their own subscription plans that give power users additional features or perks,” says social media analyst Matt Navarra, who first broke the news of the Meta’s change. The idea of ​​paying for features that used to be free has become the norm, he says. “The risk for them is reduced in terms of whether it will be a success.”

Despite this, Navarra admits that it will not buy verified status from Meta. “I don’t think it’s worth it,” he says.

How much money Meta can raise with the check is unclear. Twitter has struggled to sell subscriptions to its Blue service, with The Information reporting that the platform less than 300,000 subscribers worldwide— which would bring in less than 1 percent of the $3 billion Musk wants the company to make. The Meta family of apps, including Instagram, Facebook, and WhatApp, has almost 10 times more monthly users than Twitter.

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