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    Home » Meta Platforms will test a monthly subscription service
    Technology

    Meta Platforms will test a monthly subscription service

    February 20, 2023
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    In an effort to help content creators grow and build communities, Meta Platforms is testing a monthly subscription service, called Meta Verified. This service lets users verify their accounts with a government ID and get a blue badge. It will cost $11.99 per month on the web or $14.99 per month on Apple’s iOS system or Android, according to Reuters, and includes extra protection against impersonation.

    Meta Platforms will test a monthly subscription serviceThe launch of Meta Verified will begin in Australia and New Zealand this week, followed by gradual launches in other countries. This is Meta’s first foray into subscription services, following Twitter’s announcement last month that Twitter Blue will cost $11 per month.

    The CEO of the social media giant, Mark Zuckerberg, previously stated the company would launch several brand-new products that would “enable creators to be more productive and creative,” while cautioning about the cost of supporting the technology. Other social media apps, such as Snapchat from Snap Inc. and Telegram from Telegram Inc., launched paid subscription services last year as a new revenue source.

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    Wall Street closed higher as Treasury yields fell and healthcare stocks rallied. The U.S. Treasury Department announced an expansion in liquidity support through increased buybacks of longer-dated government debt. Beginning September 9, the cap on purchase size will rise from $2 billion to at least $4 billion per operation. This adjustment applies to nominal coupon securities within the 10-to-20-year and 20-to-30-year maturity ranges. These elevated levels will be maintained through November 4. The department explained that robust volumes of high-quality offers motivated the decision to enhance liquidity operations in those sectors. Following the announcement, Treasury yields declined, partially reversing the recent upward trend in long-term borrowing costs. The 10-year Treasury yield dropped to approximately 4.65%, while the 30-year yield fell to around 5.20%. On Tuesday, the 30-year yield had reached 5.337%, marking its highest point since 2007. Since bond prices and yields move inversely, the increased demand for government debt caused yields to fall, easing the pressure that had resulted from the recent selloff in long-term bonds.

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