Meta Verified Subscription Service To Be Launched In Australia, New Zealand

(RTTNews) - Facebook and Instagram parent Meta Platforms Inc. plans to unveil a new subscription service, Meta Verified, as part of its efforts to increase authenticity and security across services.

Chief Executive Officer Mark Zuckerberg in a Facebook post on Monday said the company plans to roll out the service in Australia and New Zealand this week and more countries soon.

According to him, Meta Verified "lets you verify your account with a government ID, get a blue badge, get extra impersonation protection against accounts claiming to be you, and get direct access to customer support."

Meta Verified starts at $11.99/month on web or $14.99/month on iOS.

The move is part of its efforts to find more revenue sources as it struggles to keep up its profit and revenues, which declined 55 percent and 4 percent in the fourth quarter from last year, respectively.

Aiming to cut costs and realign its business, the company recently announced several measures, including a layoff of around 11,000 employees, and a facilities consolidation strategy to sublease, early terminate, or abandon several office buildings under operating leases. The company also cancelled multiple data center projects.

Meta's new paid-verification subscription service is similar to the one recently announced by another social media major Twitter, owned by Elon Musk.

Twitter last December had relaunched its paid premium subscription service "Twitter Blue" for Business, after holding a while for updating and verification of fake accounts. Twitter Blue was then available for $8/month on the web or $11/month on iOS

Twitter also offers grey checkmark for government institutions, officials, and multilateral organizations.