Meta shares rise after News of Paid Subscription Service
2023.02.20 10:27
Meta shares rise after News of Paid Subscription Service
By Ray Johnson
Budrigannews.com – Meta Platforms shares (NASDAQ:) after the social media giant announced a new paid subscription service on its Facebook and Instagram platforms, shares rose in pre-market U.S. trading on Monday.
“Get a blue badge,” “extra impersonation protection,” and “direct access to customer support” are some of the benefits of the Meta Verified feature, which Mark Zuckerberg, the company’s chief executive officer, described in a Sunday post on Facebook.
The service will cost $11.99 per month for web users, while Apple (NASDAQ:) customers iPhone will have monthly costs of $14.99. It will initially be available this week in Australia and New Zealand, according to Zuckerberg, with additional nations following soon.
Zuckerberg added, “This new feature is about increasing authenticity and security across our services.”
Elon Musk’s Twitter made a similar decision when it launched the subscription service Twitter Blue in November of last year. After a number of accounts made use of the service to impersonate celebrities or large corporations, the rollout was delayed.
