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#Media meta android#
#Media meta verification#

#Media meta verification#

Alejandro Rosas García, co-founder and co-CEO of metaverse gaming company Gamium Corp, told Quartz “If just two per cent of paid $10/month for the verification badge, Meta would make $4.8 billion annually! (five per cent of current revenue).”. After all, everyone else appears to be doing it, not just Twitter but also YouTube Premium, Snapchat+, Reddit Premium, and others, so why not Meta…Īnd the potential upside is huge. So essentially Meta Verified is an attempt by the company to open up a new revenue stream. Meta estimates that Apple’s rewriting of the ad rule book cost it more than $10 billion in lost revenue in 2022.

More worryingly Meta has struggled to recoup lost ground after Apple’s move to add privacy options on iOS made it difficult for companies to track users’ internet activities and ultimately monetise them through ads. On one level, like everyone else, Meta faces a tough market caused by the economic downturn in which ad spend has dropped significantly. The big hole in Meta’s finances is caused by dwindling advertising revenue. The markets have also warmed to the way that Zuckerberg hasn’t been slow to rationalise the company, making around 11,000 staff redundant. Ironically the company’s shares rocketed by 23% in one day largely because it surprised analysts who were prepared for a 6.5% revenue drop. The latest figures weren’t much cheerier for Zuckerberg and the company’s investors either, showing a 4.5% decrease in fourth-quarter revenue compared to the same period in the previous year. Meta endured a tricky 2022 reporting a 41% drop in yearly profit. The clues as to why Meta has undertaken the move were dropped in its quarterly earning calls to investors in early February.

What are the long term implications for the media.

The three questions that come to mind regarding the innovation are Meta clearly hopes to avoid some of the issues that followed the launch of the recent Twitter Blue service, which was suspended after it became apparent that many people were purchasing their ticks to impersonate celebrities. The service is being trialled in Australia and New Zealand, but Meta is optimistic it will be rolled out across the globe soon.

#Media meta android#

To qualify for the new Meta Verified service, Instagram and Facebook users submit a government-issued ID and in return receive a verification badge for $11.99 a month on the web and $14.99 on iOS and Android mobiles.

The move, clearly inspired by Twitter’s recent experiments with Twitter Blue, is in the words of CEO Mark Zuckerberg “about increasing authenticity and security across our services.” This pragmatic approach has led to the launch of features like Stories and Reels arguably inspired by innovations on other platforms, and also facilitated the purchase of rival platforms, in this instance WhatsApp and Instagram.Įven so the company still managed to take the media by surprise on Sunday when it announced the impending launch of Meta Verified. Yet, it has never been afraid to borrow a good idea from someone else too.

Meta, the company that owns Facebook, Instagram and WhatsApp, has always been an innovator. 21 February 2023 What are the implications for the media of the Meta Verified subscription initiative?