Meta has begun charging users for account verification, joining efforts by rivals like Twitter to diversify away from ad revenue.

The latest social networking business, Meta Platforms, has begun charging users for account verification, joining efforts by rivals like Twitter to diversify away from ad revenue. 

Users will be able to join celebrities and other famous figures in obtaining a blue check that certifies their identity with the new Meta Verified service for Facebook and Instagram, the business said in a statement. The service will start at $11.99 per month.  

Elon Musk, the CEO of Twitter, referred to his competitor's move as "inevitable" in a tweet on Sunday, but for the time being, it is only likely to have a little effect on income. According to a note by Bloomberg Intelligence analyst Mandeep Singh, the Meta Verified feature may increase Meta's yearly sales by $2 to $3 billion. The corporation made nearly $117 billion in revenue last year. 

However, Singh claimed that the change would be more advantageous in terms of aiding the business in keeping its "creators," who can pay for verification to safeguard their content and make their posts stand out. According to the corporation, increased visibility will result in "prominence in specific platform areas, such search, comments, and recommendations."

Less than 0.2% of Twitter's US monthly active users as of mid-January have indicated a willingness to pay for memberships, including Twitter Blue, according to a document reviewed by the Information earlier this month. After reversing the roll-out of its premium offering for several weeks, Twitter relaunched the service in December. Several users of the site during its original phases utilised it to pretend to be popular accounts, like Musk's.

Users in Australia and New Zealand will be able to subscribe to Meta this week. The subscriptions will require a government-issued ID for verification. The subscription includes "proactive account protection, access to account assistance, and greater visibility and reach," according to a Meta spokeswoman in an email. It also comes with a verification badge.

(Bloomberg.com)