Meta's Gifting Meta Verified to Selected Creators: A Mixed Bag for the Platform

Meta has been gifting Meta Verified, a paid subscription offering, to select creators as part of a program to increase interest in the service. The package includes enhanced support, account protection, and profile elements, in addition to a blue checkmark. While this may not be a great indicator of take-up, Meta has sold around 7 million subscriptions to Meta Verified, with its "Other" revenue stream increasing by $280 million per quarter.

Meta has been gifting its Meta Verified subscription offering to select creators as part of a program to increase interest in the service. This paid subscription package includes enhanced support, account protection, and additional profile elements, along with a blue checkmark to signify identity. While the move may not be a great indicator of take-up, Meta has sold around 7 million subscriptions to Meta Verified, with its "Other" revenue stream increasing by $280 million per quarter [1].

The Meta Verified program follows a trend set by other social media platforms, such as X, which offer verification as a paid add-on. This shift from free verification to a paid service has led to concerns about the dilution of the blue checkmark's value, as it no longer signifies exclusivity or high profile. The blue checkmark used to be a marker of prestige, reserved for accounts with high follower counts or notable off-platform profiles. However, with the introduction of paid verification, the blue tick has lost some of its cachet, as anyone can now purchase it.

Despite this potential erosion of value, the financial implications are significant. Meta's "Other" revenue stream has seen a notable increase, suggesting that the subscription offering is generating substantial revenue. For a product that didn't exist until two years ago, this level of growth is impressive. The subscription model has proven to be a viable revenue stream for Meta, with an estimated $93 million in additional monthly revenue from Meta Verified, based on an average cost of $13 per subscription [1].

The question remains whether offering Meta Verified to high-profile users will increase interest and drive more people to become paying subscribers. While the trial period may attract some users, it remains to be seen if the service can retain these subscribers once the free trial ends. The success of the subscription model will depend on whether Meta can deliver enough value to justify the cost for users.

In conclusion, while the move to paid verification may have diluted the value of the blue checkmark, it has proven to be a financially successful strategy for Meta. The platform has seen significant growth in its "Other" revenue stream, suggesting that the subscription offering is generating substantial revenue. However, the long-term success of Meta Verified will depend on its ability to retain subscribers and deliver value to users.

References:
[1] https://www.socialmediatoday.com/news/meta-gifts-meta-verified-to-selected-creators/752396/