According to The Verge, Facebook and Instagram will receive more paid features as Meta establishes a new group focused on product development. According to Reuters, a company spokesperson stated that ‘any new product will be complementary to our existing ad business’.
Meta’s competitors, Snap Inc and Twitter Inc, have already introduced paid tiers to unlock additional features. In an interview with the Verge, John Hegeman, Meta’s head of ads and business products, stated that the company is committed to growing its ad business and has no plans to charge users to turn off ads.
Hegeman stated that Meta’s vision aligns with its long-term goals, highlighting that features are becoming a more meaningful part of its business. According to Verge, the group will be called New Monetization Experiences and will be led by Pratiti Raychoudhury, Meta’s former head of research.
Just weeks before Meta CEO Mark Zuckerberg’s deposition deadline of September 20, Facebook’s corporate parent has reached a tentative settlement in a lawsuit accusing the world’s largest social network service of allowing access to the personal information of approximately 87 million users to be fed to Cambridge Analytica. Due to its ties to political strategist Stephen Bannon, the firm was accused of supporting Donald Trump’s successful presidential campaign in 2018.
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