Social-media giant Meta Platforms is following in Twitter's footsteps.
The owner of Facebook and Instagram wants to monetize new features and thus diversify its sources of revenue.
Facebook, the so-called free social network, which was to "always remain so," will offer a paid subscription with its sister platform Instagram.
Their economic model, based on advertising, is faltering.
Meta Verified Looks Like Twitter Blue
CEO Mark Zuckerberg announced Meta Verified on Feb. 17.
This service offers users the chance to have their Facebook and Instagram accounts verified, to ensure that an impostor or troll does not impersonate them.
Verified accounts will have a blue badge. The service is called Meta Verified and will cost $11.99 a month for users subscribing on the web, and $14.99 a month for those using Apple's iOS operating system.
Meta Verified looks like Twitter's Blue service, launched last November by Elon Musk, the platform's owner.
Blue costs $7.99 a month for people using any smartphone powered by the Android operating system, and $11 a month for iPhone users unless they subscribe online. This price difference is explained by the fact that Musk wants to pass on to users the fee that Apple charges for purchases made through its App Store.
"Good morning and new product announcement," Zuckerberg said on Feb. 19. "This week we're starting to roll out Meta Verified - - a subscription service that lets you verify your account with a government ID, get a blue badge, get extra impersonation protection against accounts claiming to be you, and get direct access to customer support."
He added: "This new feature is about increasing authenticity and security across our services."
The service will first be available to users in Australia and New Zealand this week. Meta plans to expand to other countries later.
On Facebook and Instagram, subscribers will have a badge that shows their identity has been verified, as well as protections for their account (including against identity theft), "direct" access to customer service, and more visibility.
Users Aren't Happy About the New Service
The announcement was very badly received by some users who did not hesitate to let Zuckerberg know.
"Direct access to customer support is the real value, much more so than the blue check mark," one Facebook user told Zuckerberg.
"I agree that's a big part of the value. Also, once you've verified your account with a government ID we can more effectively find and remove any imposter accounts since we know which account is the real you," the CEO responded.
A user was not convinced by this reasoning.
"This really should just be part of the core product, the user should not have to pay for this. Clearly it's known by Meta this is filling a need, why profit additionally from it? Not sure how that is supporting authenticity. Be transparent as to the purpose of the feature," they told Zuckerberg.
"We already provide protections and some support for everyone," the CEO responded. "But verifying government IDs and providing direct access to customer support for millions or billions of people costs a significant amount of money. Subscription fees will cover this and will also pace how many people sign up so we'll be able to ensure quality as we scale."
Meta (META) clarified that the service is primarily aimed at creators and influencers, willing to pay for their content to be distributed more widely and to appear at the top of search results and recommendations.
The test phase should enable the company to evaluate and possibly adjust its offer, based on feedback. For now the subscription is reserved for individuals and professionals over 18 years old.
It is not open to business accounts.
This service is a break with the motto of Facebook.
TikTok And Apple Aren't Helping
The slogan of the social network, which was founded in 2004, has long been "It's free and (it always will be)."
Facebook had established the dominant model of major online platforms: Users benefit from free services, which, in return, collect personal information about them to target them with personalized advertising.
Acclaimed by advertisers, from big brands to small businesses, Google and Meta have quickly become the dominant players in the sector, earning tens of billions of dollars each year.
But the launch of a paid service shows that this economic model is now showing its limits. Last year, Meta saw its advertising revenue decline for the first time since the Menlo Park, Calif., company went public in 2012. And its annual net income came in at $23.2 billion, 41% less than the previous year.
Some 3.74 billion people use at least one of the company's services (social networks and messaging) every month. But between inflation, which is eating away at advertisers' budgets, and fierce competition from apps like TikTok, ad revenues are decreasing.
Meta is also affected by changes made by Apple (AAPL), which has restricted the ability of social networks to collect user data to sell targeted advertising.
As a result, the firm is now drastically reducing its costs to preserve its profitability. Meta implemented a massive plan in the fall, cutting 13% of its workforce, and Zuckerberg indicated earlier this month that he wanted fewer managers at "middle levels”.
This year will be the year of "efficiency”, he said, remarks welcomed by the markets.
