The U.S.-based business intelligence company Morning Consult recently released an analytical report highlighting that the majority of people in the U.S. are not interested in paying for social media platforms, whereas those who are willing to pay, need better security and a badge in return.
Just like Twitter Blue, a paid service for Twitter users that allows paid users to edit their tweet once it has been posted and provides a verification blue tick, Meta has released a similar service under the name of Meta Verified. According to Meta, the paid service will be offered to Facebook and Instagram users, and subscribed members will be provided with enhanced security, improved customer care, and a badge. Charges will be deducted every month.
However, the analyst company has burst the bubble with its latest survey report, which shows that the majority of the U.S. population is not willing to pay for such services. The survey was based on the results collected from 2200 Americans from March 11th to March 12th of the ongoing year. 76 percent of the total participants said they are not interested in paying for the services, compared to 19 percent who would pay. Surprisingly, not even Gen Z was interested, as 71 percent of the Gen Z participants turned down the paid service subscription. Similarly, 62 percent of the millennials, 76 percent of the Gen Xers, and 90 percent of the boomer participants were also not interested.
However, users who use social media as a platform to earn money by creating content were interested in paying extra charges for premium services. 66 percent of the content creators agreed to pay for subscriptions. On the other hand, users who create content only for the sole purpose of entertainment are not going to subscribe to the paid service. 70 percent of such creators turned down the offer.
Those who were willing to subscribe to the paid service were looking forward to better security and a verification mark feature. Content creators were most likely to become a part of it, as they believed a verification mark is one of the most important things they can get via a paid package. It is believed that those who use such platforms only for entertainment purposes are less likely to pay, whereas those who earn through social media would take every opportunity. Twitter discovered that ninety percent of the content comes from just ten percent of the users; these are the users that social platforms are targeting to get them on board with a paid membership.
Read next: AI-powered Language Models Could Disrupt Job Markets, Study Reveals
Just like Twitter Blue, a paid service for Twitter users that allows paid users to edit their tweet once it has been posted and provides a verification blue tick, Meta has released a similar service under the name of Meta Verified. According to Meta, the paid service will be offered to Facebook and Instagram users, and subscribed members will be provided with enhanced security, improved customer care, and a badge. Charges will be deducted every month.
However, the analyst company has burst the bubble with its latest survey report, which shows that the majority of the U.S. population is not willing to pay for such services. The survey was based on the results collected from 2200 Americans from March 11th to March 12th of the ongoing year. 76 percent of the total participants said they are not interested in paying for the services, compared to 19 percent who would pay. Surprisingly, not even Gen Z was interested, as 71 percent of the Gen Z participants turned down the paid service subscription. Similarly, 62 percent of the millennials, 76 percent of the Gen Xers, and 90 percent of the boomer participants were also not interested.
However, users who use social media as a platform to earn money by creating content were interested in paying extra charges for premium services. 66 percent of the content creators agreed to pay for subscriptions. On the other hand, users who create content only for the sole purpose of entertainment are not going to subscribe to the paid service. 70 percent of such creators turned down the offer.
Those who were willing to subscribe to the paid service were looking forward to better security and a verification mark feature. Content creators were most likely to become a part of it, as they believed a verification mark is one of the most important things they can get via a paid package. It is believed that those who use such platforms only for entertainment purposes are less likely to pay, whereas those who earn through social media would take every opportunity. Twitter discovered that ninety percent of the content comes from just ten percent of the users; these are the users that social platforms are targeting to get them on board with a paid membership.
Read next: AI-powered Language Models Could Disrupt Job Markets, Study Reveals
