If you have it, Meta wants it too. First was Snapchat's stories before TikToks was transformed into reels, and how could we forget Facebook's dreaded marketplace? It was only a matter of time before IG introduced its own subscription service, given the immense revenue opportunities afforded to creators on OnlyFans.
Looking through the details of the announcement, the subscription service, which is first being implemented in the US via select creators, will follow a model bearing the most similarities to Patreon.
Once the service is made available to them, creators will be able to add a subscription button to their profiles and set a monthly cost of their choosing.
In a bid to offer a more intimate form of engagement on the platform, those that subscribe will receive access to exclusive lives, stories, and badges.
This model has been utilized via Patreon by podcasters and Youtubers for quite some time, allowing creators to offer different tiers of rewards, including exclusive content, previews, and access to Discord servers.
Though this model is nothing particularly new, it'll provide influencers and creators on the platform the opportunity for a new revenue stream. Taking into consideration how much the current algorithm favors paid sponsorships and marketplace content can affect potential engagement-based revenue opportunities, this is a big win for the platform's users.
There's no indication as to when these features will roll out globally, and in the meantime, remain in the testing stages for a handful of US users.
The question is – which app's core function will Meta come for next?