Meta planning more paid features for Facebook and Instagram: The Verge

MENLO PARK — Meta Platforms is setting up a new product organisation to work on "possible paid features" for its Facebook, Instagram and WhatsApp platforms, The Verge reported on Tuesday (Aug 30), citing an internal memo sent last week.

The company still has no plans to let users pay to turn off ads and it is committed to growing the ads business, Meta's head of ads and business products, Mr John Hegeman, said in an interview with The Verge.

The company did not immediately respond to a Reuters request for comment.

Mr Hegeman declined to elaborate on the paid features that are being considered, the report said.

The move would put Meta on the same course as companies including Snap and Twitter that have launched paid tiers to unlock additional features.

Last month, Meta recorded its first ever quarterly drop in revenue as recession fears and competitive pressures dragged ad sales.

The group, called New Monetisation Experiences, will be led by Ms Pratiti Raychoudhury, who was previously Meta's head of research, according to the report. REUTERS