Facebook and Instagram could have 12 million paying subscribers by early 2024, says BofA
Publishing timestamp: 2023-02-21 13:58:51
Summary
Bank of America research note said that Meta's Verified subscription service could prove popular for influencers, creators and businesses, helping Meta score $1.7 billion in high-margin revenue in 2024. Meta is currently testing the service in Australia and New Zealand, while Twitter and Snap have recently debuted their own subscription services. BoFA analysts described Meta's subscription service as catering to influencers and creators as opposed to consumers, and noted that businesses will eventually be able to sign up as well.
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Keywords: internet, social media, technology, mark zuckerberg, mobile, meta platforms inc, breaking news: technology, business news,