It is hardly surprising that ad-supported networks are looking to diversify their sources of revenue. After years of non-stop growth the online-advertising business has hit a speed bump
and always will be,” Facebook vowed on its landing page for nearly a decade. The world’s largest social network still is. But from this week its users and those of its sister app, Instagram, will have the option of paying $11.99 a month for a “verified” account, buying them better customer service, more widely distributed posts and a blue badge next to their name., a messaging app popular among 20-somethings, launched a $3.99 plan called Snapchat+.
The results have been painful. Meta, Facebook’s parent company, has reported falling revenue in each of the past three quarters. Despite a recent rally its stock is trading at less than half the value at its peak in 2021. Snap, which owns Snapchat, has lost nearly 90% of its market value in the same period. Twitter, which was bought last October by Elon Musk, a mercurial self-styled “technoking”, is “trending to breakeven” having previously faced bankruptcy, its owner tweeted this month.
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