Meta-owned Facebook, Instagram and WhatsApp will soon have new features available exclusively to those who pay for them. Meta is reportedly setting up a new division for in-fee features that users will be able to purchase.
Instagram and Facebook already have some paid features like events and stars. It looks like the new division for features paying customers will be different. However, it is not yet known what exact pad features the brand will introduce. John Hegman, VP of Meta, believes that this will add to the company’s profits in the long run.
Meta already has its own ad business and interestingly, these new pad features will be a new series in itself for the company to generate profit and business at the same time. Offering paid features on the app will make Meta similar to Snap and Twitter. Even Telegram has recently launched its own set of paid features.
According to an internal memo sent to employees last week, Meta is setting up a product organization to identify and build “pad features” for Facebook, Instagram and WhatsApp. This information has been given in the media report.
This new division is Meta’s first serious attempt at building Pad features into its main social app. Let us tell you that there are billions of users in these three. It’s being installed after Meta’s advertising business was seriously hurt by Apple’s ad tracking changes on iOS and a reduction in digital ads spend. Let us tell you that the group called its New Monetization Experience will be led by Prati Roychowdhury, who was earlier the head of research of META.