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Facebook and Instagram are getting “paid services”—first in Australia and New Zealand

Dublin: After Twitter, Facebook and Instagram are “paid services.” According to the company, Facebook and Instagram users who pay a monthly subscription fee can check their accounts and ensure privacy security.

The system will be rolled out to meta-verified users in Australia and New Zealand first, beginning this week. By earning a blue badge, users will be able to verify their accounts with a government ID and avoid impersonation scams. It is unclear when the arrangement will be implemented in Ireland. Last year, Twitter made a similar move. But it did not happen due to various reasons, including fake accounts.

Meta’s CEO, Mark Zuckerberg, stated that the plan is to introduce a subscription at the rate of 11.20 euros per month. According to the CEO’s Facebook post, the new feature is being introduced to improve the authenticity and security of all services.

These changes will not affect existing verified Facebook and Instagram accounts. Only people over the age of 18 can get a new subscription under the new system. This service will not be available to business organisations.

The new announcement came after news that Meta was in financial trouble. The company previously announced plans to lay off 11,000 employees in November. It’s thought to be the biggest cut in the company’s history.

Meta’s stock market situation is also worsening. In less than a year, the company’s stock price had dropped by two-thirds. But the company has improved its position in 2023. It also reported the company’s biggest drop in ad sales in its history. This was significantly higher than the company had anticipated.

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