Meta on Wednesday unveiled paid subscription plans for its major apps, marking a significant step by the technology company to reduce its long-standing dependence on advertising revenue.
Meta’s head of product, Naomi Gleit, announced the new services in a video shared on Instagram. She said the company was launching Facebook Plus, Instagram Plus and WhatsApp Plus worldwide, while also developing additional subscription plans for businesses, creators and artificial intelligence products.
The announcement comes as investors continue to question Meta’s huge spending on artificial intelligence projects. The company recently projected annual capital expenditure of between $125 billion and $145 billion, with much of the money directed towards AI data centres.
Meta’s shares rose by almost three percent following the announcement.
Reports said Instagram Plus and Facebook Plus would each cost $3.99 per month, while WhatsApp Plus would be priced at $2.99 monthly.
The premium versions of Instagram and Facebook will provide additional tools such as enhanced analytics, story rewatch data, broader audience reach and profile customisation features.
WhatsApp Plus will focus more on personalisation, offering premium stickers, customised ringtones and different app themes.
Gleit said Meta eventually plans to combine its various subscription products under a single service known as Meta One.
In 2023, Meta introduced paid ad-free versions of Facebook and Instagram in Europe in response to European Union privacy regulations, allowing users to choose between free ad-supported platforms and subscription-based experiences without advertisements.