Meta’s new subscription service will allow users to verify their accounts and offer additional protections against impersonation, as well as “direct access” to customer support. How many users can it attract? BofA analysts weighed in.
Meta Platforms Inc.’s new user-subscription and verification service could nudge profit higher and generate more revenue for creators than rival social-media outlets, but its audience size “could be limited,” BofA analysts say.
The service, available on Facebook and Instagram, is rolling out in Australia and New Zealand this week, with more countries to follow, Zuckerberg said. The price of the service starts at $11.99 a month on the web, or $14.99 a month on iOS, Zuckerberg said. Assuming Meta expanded its own subscription option globally over the next two to three months — and attracted 0.4% of monthly active users in the process — Meta Verified could land around 12 million subscribers by the end of 2023 or early 2024, the analysts said.
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