Meta has become the latest social media company to launch a paid subscription model called ‘Meta Verified’ for its platforms Facebook and Instagram in a bid to provide secure services and authentication for its users. The new model would offer a slew of features including account verification for its users. The model will be primarily targeted at content creators.
However, the Meta Verified subscription is more expensive than its rival Twitter's Blue subscription.
Features and Pricing of ‘Meta Verified’
The new model will be primarily launched in Australia and New Zealand this week. The new feature will be priced at $11.99 per month for the web and $14.99 on the iOS app. If launched in India, Meta Verified will cost ₹991.57 per month for web, and ₹1,239.67 per month for iOS users. This means that Meta Verified will be more expensive than Twitter Blue Verification which costs ₹650 per month for web users and ₹900 per month for android and iOS users.
The new subscription model is also more expensive than the Netflix subscription plan which costs ₹649 for premium subscribers in the country.
The new feature will enable the subscribers to get a blue badge, extra impersonation against fake accounts claiming to be the user, direct access to customer support, and increased visibility and reach.
"This week we’re starting to roll out Meta Verified—a subscription service that lets you verify the 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. This new feature is about increasing authenticity and security across our services. Meta verified starts at $11.99 per month on the web or $14.99 per month on iOS," Mark Zuckerberg, chief executive officer of Meta, said on Sunday in an Instagram post.
"We'll be rolling out in Australia and New Zealand this week, and more countries soon," he added.
Meta in a blog post said that the company has been thinking of a paid offering that will unlock these features, since last year.
How to avail 'Meta Verified' subscription
According to Meta, to be eligible, 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. Subscriptions will include proactive monitoring for account impersonation.
"We're also committed to continuous monitoring and review of reported violations, as well as taking swift action against those who try to evade our systems," Meta said.
The launch of the new product comes months after the social media behemoth fired 13% of its workforce in November last year. Touted to be the first and largest layoffs in Meta’s history of 18 years, the layoffs impacted more than 11,000 employees. Meta has also decided to extend the hiring freeze through the first quarter.
In the October to September quarter of 2022, the social media giant reported a 4% year-on-year (YoY) on its revenue to ₹32.17 billion, whereas net income declined 55% YoY to $4.65 billion. In Q4 of 2022, the company’s cost and expenses surged 22% YoY to $25.8 billion. However, its platform Facebook hit two billion daily active users during the quarter.
