Meta is in a difficult financial situation right now. In 2021, Apple implemented a new iOS privacy update, making it difficult for Meta platforms to target ads to users, and this costs the company USD10 billion in revenue (RM44.2 billion). The company is also facing stiff competition from TikTok, and Meta’s Reality Labs, their VR division, has lost USD9.4 billion (RM41.6 billion) in 2022, but the company continues to invest in it. It appears Meta is trying to recoup some of its losses by offering this new subscription service.
TechCrunch reports that yesterday, the head of Meta, Mark Zuckerberg, announced on his Facebook post that they are launching a subscription service called “Meta Verified”. Subscribers will be able to add the coveted blue checkmark to their Instagram and Facebook accounts for up to USD15 (RM66.50) per month.
The monthly fee for the subscription service is USD11.99 (RM53.10) on the web or USD14.99 on iOS and Android, with initial rollouts beginning this week in New Zealand and Australia. Users will be able to utilise their government-issued ID cards to confirm their identity through Meta platforms.
According to the company, the subscription service would also provide “greater exposure and reach,” better defence against impersonation assaults, and direct access to customer assistance.
Zuckerberg said “This new feature is about increasing authenticity and security across our services” on his post and they will be releasing this subscription service to other countries soon.
On Meta blog post, the company said:
Long term, we want to build a subscription offering that’s valuable to everyone, including creators, businesses and our community at large.
As part of this vision, we are evolving the meaning of the verified badge so we can expand access to verification and more people can trust the accounts they interact with are authentic.
To subscribe to Meta Verified, users need to meet these criterias:
- Accounts must meet minimum activity requirements, such as prior posting history, and be at least 18 years old.
- Applicants are then required to submit a government ID that matches the profile name and photo of the Facebook or Instagram account they’re applying for.
Meta also said subscribers will get “exclusive features to express yourself in unique ways.” This is probably related to the Avatars they that launched recently.