Facebook parent Meta reportedly sets up new unit to plan paid features across its apps – The National

Facebook parent Meta reportedly sets up new unit to plan paid features across its apps – The National

Meta Platforms, the parent company of Facebook, is planning to add more paid features across its applications as it seeks to boost revenue streams, technology website The Verge has reported.

The new group, called New Monetisation Experiences, would be the first serious attempt by the California-based company to boost income through paid services, including messaging platform WhatsApp and photo-sharing platform Instagram, the report said, citing an internal memo that was obtained by the site.

“I think we do see opportunities to build new types of products, features and experiences that people would be willing to pay for and be excited to pay for,” John Hegeman, vice president of monetisation and in charge of the new group, said in the report.