WhatsApp, Instagram and Facebook could have more payment functions
Goal you are creating a product organization to identify and create “possible payment functions” for Facebook, Instagram Y WhatsApp, according to an internal memo sent to employees last week that was obtained by The Verge.
The new split is Meta’s first serious foray into building payment features into its core social appsall three with billions of users.
It’s setting up after the business of Meta ads is severely affected by ad tracking changes from Manzana in iOS and a broader pullback in digital ad spending.
Meta wants to give more priority to ads on their social networks
The group, called ‘New Monetization Experiences’, It will be led by Pratiti Raychoudhury, who was previously the head of research for Meta.
In an interview with The Verge, Meta’s vice president of monetization who oversees the group, John Hegemann, He said the company is still committed to growing its ad business, and had no plans to let people pay to turn off ads in its apps.
“I think we see opportunities to build new types of products, features and experiences that people would be willing to pay and would be excited to do so.” said. He declined to elaborate on the payment features being considered.
Meta’s revenue comes almost entirely from ads, and while it already has several paid features across its apps, the social media giant hasn’t made paying users a priority until now.
Hegeman downplayed paid features becoming a significant part of the business in the short term, but said that “on the other hand, I think if there are opportunities to create significant new value and revenue lines and also to provide some diversificationthat’s obviously going to be something that’s going to be attractive.”
In the long term, Meta sees paid features becoming a more significant part of its business, he said. “In a time horizon of five years, I think it can really move the needle and make a pretty significant difference.”
The group administrators Facebook they can now charge for access to exclusive content, and virtual “stars” can be purchased to send to creators; WhatsApp charges certain companies for the ability to send messages to their customers; and Instagram recently announced that the content creators they could also start charging a subscription for access to exclusive content.
In June, the CEO mark zuckerberg he said the company would not accept a transaction cut of paid features and subscriptions until 2024.
Meta social networks do not want to be left behind by the competition
Meta isn’t alone in pushing for more paid features. Social media apps have become increasingly chargeable in recent years.
TikTok started testing paid subscriptions for creators earlier this year; Twitter has implemented the Super Follows and also Twitter Blue; Discord he earns his money in full with his subscription called Nitro.
Furthermore, this year both Telegram What Snapchat added paid tiers that unlock additional features. Snapchat’s pay tier has proven to be an early success.
“Obviously we’re paying attention to what’s going on in the industry,” he said. Hegeman. “And I think there are a number of companies that have done interesting things in this space that I hope we can learn from and emulate over time.”
