Why Subscription Models Will Be the New Normal for Social Media
EntrepreneurOct 27, 2023
Meta, which owns Facebook and Instagram, announced Monday that starting in November, users older than 18 can pay a monthly subscription fee for its platforms and no longer see ads. It will cost €9.99 (or about $10.50) per month for desktops and €12.99 (about $13.70) for iOS and Android.
The move, which will apply to Meta's two major social media platforms in the EU, the European Economic Area, and Switzerland, will then add an additional charge of €6 per month per desktop account and €8 per month per phone account listed under a user's Account Center.
While many users may be happy to avoid what they see as pesky advertisements in their social media feeds, the growing number of ad-free platforms will be a detriment to companies trying to reach potential customers. There are also ethical concerns over all these platforms — from Meta and YouTube to X and Snapchat — charging those with less financial means to use their services. Ad-based social media gave everyone free access to the internet, something that could be lost if this trend grows.
As non-human bot accounts take over the digital dialogue and targeted advertising becomes more and more intrusive, subscription-based social media can certainly become the new norm. However, in order for users to feel they're paying a fair price, these tech giants are going to have to provide more bang for their buck. The digital world is at a historical impasse, which is why Silicon Valley, either by legal force in the EU or by choice in the case of Elon Musk, must prove itself willing to protect our data while building platforms worth a subscription.