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· Posted on
February 21, 2024

Meta yoinks an idea from Twitter's playbook with its new Meta Verified subscription

Meta's stealing an idea from Twitter's playbook by announcing a new subscription service called "Meta Verified".

What's the key learning?

  • Meta's focusing on less spending on moonshot projects and more on cash-generating features, so it announced a new subscription service called "Meta Verified".
  • People who purchase Meta Verified will get access to a verification badge, account protection, and account support on their account - it also offers increased visibility and reach across the platforms.
  • The challenge for Meta is that the ad market can be inconsistent and badly affected by the broader economy.

👉 Background: Meta needs no introduction - the parent company of all things Facebook, Instagram, Whatsapp and of course the one, the only Horizons World metaverse.

👉 What happened: This year has become the “year of efficiency” for Meta. Less spending on moonshot projects and more cash-generating features. With that in mind, Meta has announced a new subscription service called Meta Verified.

👉 What else: People who purchase Meta Verified (for $12 USD per month) will get access to a verification badge, account protection and access to account support on their account. It also offers increased visibility and reach across the platforms. You can't put a price of Instagram followers.

What's the key learning?

💡Subscription = smooth. Ads = choppy. The Meta suite of products earns more than 97% of their revenue through ads.

💡The challenge for Meta is that the ad market can be inconsistent and badly affected by the broader economy.

  • Meta’s business was hit hard at the beginning of the pandemic when advertisers began to pull ads.
  • It was hit hard again when the Ukraine war began.
  • It’s been hit hard again with the rise of inflation and less discretionary spending.

💡Subscriptions offer a more consistent revenue stream for Meta. Now, the challenge is convincing its 3.7 billion users to actually make the expensive switch.

‍

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All information contained in the Flux app, www.flux.finance, www.joinflux.com, app.flux.finance and any podcast of Flux Media Pty Ltd (ABN 27 639 804 345) is for education and entertainment purposes only. It is not intended as a substitute for professional financial, legal or tax advice. Flux Media Pty Ltd is the owner of the registered trade mark, 'What the Flux'. While we do our best to provide accurate information on the podcast, we accept no responsibility for any inaccuracies that may be communicated.
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