Meta has set up a dedicated team for the purpose of having specialists develop possible future paid functions for Facebook, Instagram and WhatsApp, according to an internal letter received by colleagues last week. The creation of the new division is a pretty strong sign that the social media giant is serious about creating more revenue channels after its ad business was battered by changes to iOS data collection for ad purposes and a broader decline in digital ad spending. New Monetization Experiences will be headed by Pratiti Raychoudhury, who previously held the position of head of research at Meta.
The group is overseen by John Hegeman, the company’s vice president of revenue generation according to the company remains committed to strengthening its advertising business and has no plans to allow users to turn off ads in exchange for a subscription fee (previously several papers mentioned a “paid Facebook” following a rumor). Instead, the focus will be on the development of new types of products and functions that “people would be happy to pay for”, but he did not elaborate on what kind of idea seeds have been planted so far.
Tesco’s route planning engine is already based on Java (x)Python was replaced by Java, and the result was a sixteenth reduction in runtime, half a million pounds in cloud costs and less fuel.
Tesco’s route planning engine is already based on Java (x) Python was replaced by Java, and the result was a sixteenth reduction in runtime, half a million pounds in cloud costs and less fuel.
Almost all of Meta’s income comes from advertisements, and although several paid functions are already available within its services, it has not made this type of monetization a priority. According to Hegeman, paid developments will not be a significant part of the business in the short term, but they will significantly help diversification, and the changes will be felt in five years’ time.
Existing solutions include Facebook group administrators being able to charge a fee for access to exclusive content, WhatsApp asking businesses to send messages to their customers, and Instagram recently announced that it will also be possible to charge creators for paid content. . CEO Mark Zuckerberg announced in June that the company would not deduct commissions from transactions related to paid services and subscriptions until 2024.
Not only Meta is researching new monetization opportunities, TikTok started testing paid subscriptions among content creators at the beginning of the year, Telegram and Snapchat also added paid tiers offering extra functions.
Source: HWSW Informatikai Hírmagazin by www.hwsw.hu.
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