Meta Set To Slash Facebook, Instagram Monthly Fees By 50%
Tech giant, Meta is set to reduce the monthly fees of Facebook and Instagram platforms from 9.99 euros to 5.99 euros.
This was revealed by a Senior Meta Executive recently. According to him, the move aims to address concerns from privacy and antitrust regulators.
According to reports from Reuters, the price cut follows mounting criticism from privacy, activists and consumer groups about Meta’s no-ads subscription service in Europe, which critics say requires users to pay a fee to ensure their privacy.
Recall that Meta launched the service in November 2023 to comply with the Digital Markets Act (DMA), which curbs its ability to personalise advertisements for users without their consent, hurting its major revenue source.
The company said the fee model seeks to balance the conflicting demands of EU privacy laws and the DMA.
In the European Commission hearing, Tim Lamb, a lawyer at Meta said: “We have wanted to accelerate that process for some time because we need to get to a steady state, so we have offered to drop the price from 9.99 to 5.99 for a single account and 4 euros for any additional accounts.
“That is by far the lowest end of the range that any reasonable person should be paying for services of this quality. And I think that is a serious offer. The regulatory uncertainty at the moment is out there and it needs to settle down quickly.”