As Facebook and Instagram prepare to join other social media platforms like TikTok and Twitter in introducing new paid services, it seems that the Great Social Media Moneygrab is already under way.
Facebook and Instagram users will be able to pay for “blue tick” verification starting this week, according to Mark Zuckerberg, CEO of Meta.
The Twitter Blue system will function similarly to “Meta Verified.” Users will get a blue badge certifying their identification, customer support will be more easily accessible, and most importantly, the exposure of their postings will grow.
This week, consumers in Australia and New Zealand will be the first to use the new system, which will charge online users £11.99 (£9.96) a month.
Elon Musk announced the launch of Meta Verified in a post on the company’s official Meta channel, writing: “This week we’re starting to roll out Meta Verified—a subscription service that allows you to verify your account with a government ID, obtain a blue badge, receive additional impersonation protection against accounts claiming to be you, and gain direct access to customer support.
With this new function, we want to improve the legitimacy and security of all of our services.
When the functionality will be implemented in the US, the UK, or the EU is unknown.
That indicates that Meta will join the ranks of other social media juggernauts who have started rolling out paid features in the midst of a deepening economic crisis.
In November 2022, Twitter unveiled Twitter Blue, which offers users a blue tick in exchange for an £8.40 monthly charge.
In the meanwhile, TikTok is considering allowing artists to provide “premium” paid content to their followers starting at $1 per month.
The main reason for introducing these features is a decline in advertising income. Social media behemoths generally profit from selling user data and a marketing algorithm to advertisers, who in turn deliver adverts to users.
Yet, it seems that social media businesses are beginning to pressure their users for money as well as data given that advertisers are generally paying less.
»With new identification processes, Facebook and Instagram users pay for critical service«