Current Events > Meta to Charge Monthly Fees For Using Facebook and Instagram

(+) Yeah! (+)

https://www.yahoo.com/finance/news/meta-charge-monthly-fees-using-235743660.html

Meta (META) announced today (Oct. 30) that it will charge Facebook and Instagram users in Europe a subscription fee for an ad-free experience starting in November. The subscriptions will cost 9.99 ($ 10.60) per month for web and 12.99 ($13.79) for mobile apps. Initially, one subscription will cover all accounts linked to its owner. But starting March 2024, users will have to pay an extra fee for each additional account, which will be 6 ($6.37) per month for web and 8 ($8.49) for mobile. The rollout came just days after Meta CFO Susan Li shared an update on the companys European ad strategy.

Meta said it introduced the subscriptions to comply with European Union regulations. In May, The E.U. fined Meta $1.3 billion for violating its data privacy rules by transferring user data in Europe to servers in the U.S. Following a legal battle, the E.U. effectively barred the social platform from harvesting user data across its platforms for targeted ads without user consent.

To resume collecting user data, Meta said in August it would make changes to comply with Europes General Data Protection Regulation around consent issues. Well continue to advocate for an ad-supported internet, even with our new subscription offering in the E.U., EEA [European Economic Area] and Switzerland. But we respect the spirit and purpose of these evolving European regulations, and are committed to complying with them, Meta said.

During Metas third-quarter earnings call last week, Bank of America analyst Justin Post asked Meta executives about the companys potential subscription offering and GDPR compliance issue in Europe. CFO Susan Li didnt reveal much, but said the company was working on a consent model for ads in Europe.

Even though Metas new subscription plan for Europe resulted from a legal battle, entirely subscriptions-based social platforms that used to be free may be something to keep an eye on.

X, formerly known as Twitter, is testing a $1 yearly fee for new users in the Philippines and New Zealand to access basic functions such as reposting, liking and replying to posts. X owner Elon Musk said this is the best way to get spam accounts and bots off the platform. In the past, Musk has floated the idea of making X a completely paywalled platform.

Meta reported an increase in ad revenue for the quarter ended September. Ad revenue rose 23 percent in the quarter from a year ago and showed strides since 2021. Li explained on the earnings call that the company is still cautious about what ad sales will look like going into the fourth quarter because of the ongoing Israel-Hamas war.

https://www.youtube.com/watch?v=lhckuhUxcgA

I'm glad I'm not on social media

Lol

Watch there be an "out of nowhere" avalanche of new ads for free users once this takes place.

LMAOOOO ok zuck

I will never pay for social media.

Wow, not click bait at all

NeonTentacles posted...

I'm glad I'm not on social media

Gamefaqs was social media before social media even existed!!!

Social media was a mistake.

I'm very impressed by your ability to create clickbait topics

users in Europe

mmk

Headline: "Meta to Charge Monthly Fees For Using Facebook and Instagram"

First line of article: "Meta (META) announced today (Oct. 30) that it will charge Facebook and Instagram users in Europe a subscription fee for an ad-free experience starting in November."

TC has no shame confirmed.

Nobody is paying that shit.

Imagine paying money to see other peoples you barely know dogs, babies, and food.

>for an ad free experience

Pretty key detail to leave out
Topic title makes it sound like they'll have to pay for use at all

That's all

Lillymon posted...

Headline: "Meta to Charge Monthly Fees For Using Facebook and Instagram"

First line of article: "Meta (META) announced today (Oct. 30) that it will charge Facebook and Instagram users in Europe a subscription fee for an ad-free experience starting in November."

TC has no shame confirmed.

Why blame me? That's the actual name of the article.

NeonTentacles posted...

I'm glad I'm not on social media

This.

13 bucks a month just to remove ads and nothing else?! Holy fuck lmao.

I heard somewhere an average user was worth 12/year in ad revenue so lol