Meta Platforms Inc is setting up a new group that will focus on creating products and features for its Facebook, Instagram, and WhatsApp platforms that people will be able to purchase, a company spokesperson said on Wednesday.
“Any new product will be complementary to our existing ads business”: Company
“Any new product will be complementary to our existing ads business,” the spokesperson told Reuters in an emailed statement. Moreover, the move would put Meta on the same course as companies including Snap Inc and Twitter Inc that have launched paid tiers to unlock additional features.
The company has no plans to let users pay to turn off ads and is committed to growing the ads business, John Hegeman, Meta’s head of ads and business products, said in an interview with the Verge. In the long term, Meta sees paid features becoming a more meaningful part of its business, Hegeman told Verge.
The groups will be called New Monetization Experiences
The group is called New Monetization Experiences. It will be led by Pratiti Raychoudhury, who was previously Meta’s head of research, Verge reported.
Just a few weeks before a September 20 deadline for Meta CEO Mark Zuckerberg to submit to depositions, Facebook’s corporate parent has reached a tentative settlement in a lawsuit alleging the world’s largest social network service of allowing access to the personal information of about 87 million users to be fed to Cambridge Analytica.
