Today's video focuses on Meta Platforms (FB +2.48%), formerly known as Facebook, and the steps it's taking to drive more content creators and users to its platform. One of those is increasing the potential salary for content creators. Here are some highlights from the video.
- On Jan. 19, Instagram introduced Instagram Subscription, a way for creators to earn recurring revenue. Subscription solutions are not new to Meta Platforms, as it introduced similar services on Facebook in 2020.
- Online reports have stated that Meta Platforms is looking to integrate NFTs into its social apps. Meta Platforms will not be the first social application to enter the NFT craze, as Twitter (TWTR +0.00%) Blue already allows users to verify their NFT profile pictures.
- I would consider neither the subscription tools nor the NFT implementations a significant shift. As a social platform, Facebook and Instagram need to appeal to the current hype surrounding NFTs. The subscription tools are an incentive to bring more creators to the platform, which in theory should attract more users. Therefore, these two products are just ways for Meta Platforms to keep users in its platform.
Click the video below for my full thoughts and analysis.
*Stock prices used were the closed prices of Jan. 20, 2022. The video was published on Jan. 20, 2022.
