Meta Platforms Inc is planning 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," the spokesperson told Reuters in an emailed statement.
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 Verge first reported the development.
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.
Last month, Meta recorded its first-ever quarterly drop in
revenue as recession fears and competitive pressures dragged ad sales.
The group, called New Monetization Experiences, will be led
by Pratiti Raychoudhury, who was previously Meta's head of research.
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