A new leaked memo has entered the spotlight and it’s talking about Facebook and Instagram no longer being offered for free.
The internal memo talked about tech giant Meta setting up a new product organization to highlight all possible paid features, as recently put out by The Verge.
The news comes at a time when the tech giant reported a 1% decline in revenue in July of this year and even saw its net income plunge to new lows as well.
Meta has been struggling to keep up with Apple’s new ad tracking changes which the firm says has severely impacted its business and it’s really struggling to deal with the aftermath.
This was again highlighted alongside other challenges that the firm based in California has been suffering from in recent times. And if that means taking out more paid features for users then so be it.
Just the thought of Facebook and Instagram no longer being offered for free had many taking to their accounts on social media to express their concerns and blast CEO Mark Zuckerberg for being greedy as they felt he was minting a lot of money and hence found a new way of doing that further.
Apple’s new changes to ads will reportedly take consent from users before they’re tracked for ads. And Meta is feeling the pressure because that means its ads revenue will show a significant decline as it has done so in the past.
On average, Meta lost a staggering $10 billion in ad revenue last year and fears are growing for the value to be even more this year.
All in all, we’re just going to have to wait and watch to see what exactly these paid features are and how much they cost. So until then, let’s try to make the most of the user experience for free. Don’t you agree?