Instagram, Facebook, WhatsApp platforms likely to offer paid features soon. Details here

Meta Platforms Inc is reportedly setting up a new group that will focus on creating products and features for its Facebook, Instagram and WhatsApp platforms that people will be able to purchase, a company spokesperson said on Wednesday, according to Reuters report.

Interestingly, the spokesperson told Reuters in an emailed statement, “any new product will be complementary to our existing ads business.” The report further stated that the move would put Meta on the same course as companies including Snap Inc and Twitter Inc that have launched paid tiers to unlock additional features. 

It is important to note that The Verge first reported the development, noting that the company has no plans to let users pay to turn off ads and is committed to growing the ads business, John Hegeman, Meta's head of ads and business products. Hegeman reportedly told The Verge, in the long term, Meta sees paid features becoming a more meaningful part of its business.

Meanwhile, in June Meta CEO Mark Zuckerberg had posted that the company has been “rolling out more ways for creators to make money on Facebook and Instagram -- and sharing updates that will help creators build for the metaverse. We're heading towards a future where more people can do creative work they enjoy, and I want platforms like ours to play a role in making that happen.”

The post said, “more money straight to creators: We'll hold off on any revenue sharing on Facebook and Instagram until 2024. That includes paid online events, Subscriptions, Badges, and Bulletin.”

Additionally, Mark Zuckerberg said, “interoperable Subscriptions: We're letting creators give their paying subscribers on other platforms access to subscriber-only Facebook Groups. Facebook Stars: We're opening them up to all eligible creators so more people can start earning from their Reels, live, or VOD videos. Monetizing Reels: We're opening up the Reels Play Bonus program to more creators on Facebook soon and letting creators cross-post their Instagram Reels to Facebook and monetize them there too. Creator Marketplace: We're testing a set place on Instagram where creators can get discovered and paid, and where brands can share new partnership opportunities.”

(With inputs from Reuters, The Verge)