Meta Platforms Inc.’s new user-subscription and verification service could nudge profit higher and generate more revenue for creators than rival social-media outlets, but its audience size “could be limited,” BofA analysts say. In a note dated Monday, the two analysts — Justin Post and Nitin Bansal — estimated the service, Meta Verified, could bring in around 12 million subscribers by the end of this year or early next year, assuming a bigger rollout in the months ahead. That figure would be higher than those at Twitter and Snap Inc., given Meta’s
larger size and reach, the analysts said.
Meta Chief Executive Mark Zuckerberg on Sunday said the social-media platform would begin launching Meta Verified, a subscription service that would allow users to verify their accounts with a government ID. The service will also offer additional protections against impersonation, as well as “direct access” to customer support. The service, available on Facebook and Instagram, is rolling out in Australia and New Zealand this week, with more countries to follow, Zuckerberg said. The price of the service starts at $11.99 a month on the web, or $14.99 a month on iOS, Zuckerberg said. Meta Verified’s debut follows the launch last year of Twitter’s paid-subscription service, Twitter Blue, as well as layoffs at both companies and a broader slowdown in the digital-ad market that has fueled their revenue. Tesla Inc.