In a recent development, Meta has introduced a new subscription offering called “Meta Verified” that allows users to purchase a blue checkmark for $14.99 per month. While the specific numbers related to the uptake of this new feature have not been disclosed by Meta, it is evident that the social media giant is placing a significant emphasis on its subscription services. This move suggests that there is a considerable interest from both individual users and businesses in availing the benefits offered through Meta Verified.
One of the key highlights of the Meta Verified pitch is the introduction of a 14-day money back guarantee. This assurance, as depicted in a screenshot shared by Jonah Manzano, indicates that users have the option to claim a refund if they are not completely satisfied with the subscription. This unique proposition opens up the possibility for users to leverage the enhanced account support provided by Meta Verified to address any concerns before potentially canceling their subscription. The attractive money back guarantee feature may entice many users to give Meta Verified a try.
By examining Meta’s financial reports for the first quarter of the year, it can be inferred that the revenue generated from the Meta Verified subscription offering falls under the “Other” income category. The introduction of Meta Verified in the U.S. market in March 2023 has likely contributed significantly to the growth of this income segment. It is estimated that Meta could be earning around $150 million per quarter from Verified and Verification for Business subscriptions, with approximately 3 million Verified subscribers. This financial success showcases the potential profitability of subscription offerings like Meta Verified, especially in a user base as vast as Meta’s.
Meta’s decision to expand its Verification for Business packages and explore new avenues to attract more subscribers reflects its dedication to enhancing user engagement and generating supplemental income. The introduction of a cash back guarantee scheme further adds to the allure of Meta Verified, potentially encouraging more individuals to sign up for the service. While Meta’s strategy differs from competitors like X, which aims to replace ad revenue with subscription fees, the substantial quarterly earnings from Meta Verified underscore the effectiveness of Meta’s approach.
Meta’s foray into subscription services with Meta Verified marks a significant milestone in the evolution of social media monetization strategies. The growing popularity of subscription offerings and the promising financial returns from Meta Verified demonstrate the viability of such models in the digital landscape. As Meta continues to refine its subscription packages and introduce innovative features like the money back guarantee, it is poised to attract a larger audience and solidify its position as a leader in the social media industry. With the ongoing shift towards subscription-based revenue models, Meta’s success with Meta Verified sets a positive precedent for the future of social media monetization.