Meta has been making a big push for its subscription service, Meta Verified, which allows users to purchase a blue checkmark and enhanced account support for $14.99 per month. While the company has not shared specific numbers on the success of Meta Verified, the recent introduction of a money-back guarantee suggests that there is a significant level of interest among users and businesses.
One of the latest marketing strategies for Meta Verified is the introduction of a 14-day money-back guarantee. This new offer allows users to try out the subscription service and receive a refund if they are not satisfied with the product. This could potentially lead to users taking advantage of the enhanced account support offered by Meta Verified and then canceling their subscription to access free assistance.
Meta Verified was launched in the U.S. in March 2023, and it is believed that Meta is generating around $150 million per quarter from this subscription service. With approximately 3 million verified subscribers, Meta is using Meta Verified as an additional stream of income. This revenue source is categorized under the “Other” income element in Meta’s financial reports.
Despite concerns about the devaluing of the traditional blue checkmark by selling it as a subscription service, Meta may have recognized that the perceived value of the checkmark was already diminishing due to broader industry trends. Therefore, the company decided to capitalize on the opportunity to generate additional revenue from users willing to pay for the service.
A significant difference between Meta and X (formerly Twitter) is that Meta views Meta Verified as a supplemental income stream, while X aims to replace its ad revenue with paying users. Although this may not be entirely feasible, the success of Meta Verified in generating substantial quarterly revenue suggests that there is a strong incentive for Meta to continue promoting the subscription service.
Meta has introduced new tiers for its Verification for Business packages and is constantly working on new features to attract more subscribers to its personal Verification offering. With the addition of a money-back guarantee, Meta is hopeful that more users will sign up for Meta Verified in the future. The potential benefits of Meta Verified may entice users to try out the service, especially if the offer is extended to all users.
The success of Meta Verified as a subscription service indicates that there is a demand for enhanced account support and the prestige associated with a blue checkmark. While there may be concerns about the devaluation of the checkmark and the impact on the authenticity of verified accounts, Meta’s decision to capitalize on this opportunity to generate additional revenue seems to be paying off. Ultimately, the future of Meta Verified will depend on the continued interest and uptake from users in the coming months.
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