Social media site, Facebook , says that some of its free services, including fan subscription, badges and online events, will be monitised by 2023.

Facebook’s Chief executive officer, Mark Zuckerberg,
made the announcement on Monday, stating that the
idea is to help content creators eke a living on the
platform.

He also assured that the revenue share will favour
content creators compared to what Apple and other
social media companies offer.

“To help more creators make a living on our
platforms, we’re going to keep paid online events,
fan subscriptions, badges, and our upcoming
independent news products free for creators until
2023. And when we do introduce a revenue share, it
will be less than the 30% that Apple and others take.

“We’re also launching a new payout interface so
creators can see how different companies’ fees and
taxes are impacting their earnings. More to come
soon.”

‘More money’

The implication of the recent move is to increase its
users and at the same time make more money from
the app.

The company, which owns other popular social
media platforms, WhatsApp and Instagram, has been
mulling revenue generation beyond advertising,
which accounts for over 90 per cent of its revenue.

While hoping that the new strategy works for
Facebook, experts are worried about the effects of
Apple’s privacy policies.

Apple, manufacturers of iPhone and Macbook,
recently introduced changes to its operating system
that will make it harder for Facebook to earn money
off ads.

However, if successful, Facebook model may be
useful for charting a better revenue models for other
social media sites like Tiktok and Snapchat.


Facebook boss, Mark Zuckerberg [Photo Credit: BRG.in]

https://www.premiumtimesng.com/news/top-news/466345-facebook-to-stop-free-services-by-2023.html

Money keep compiling. Mark my guy

Apple really caught Facebook in the ball. Now they are looking for anyway to make money, to stay afloat.

until then lalasticlala