Paid subscriptions are currently sprouting up everywhere in the social media world. No wonder, then, that Instagram is now also entering the business of paid subscriptions.
The top places in the world of social networks are fiercely contested. In order to keep famous and popular influencers on their own platform, the creators of the apps have to come up with innovations again and again.
At the top of the list are likely to be the possibilities of monetization. Now Instagram is starting a first test phase for subscriptions.
What does the trial phase of the subscriptions look like?
The first test of paid subscriptions on Instagram has started in the USA. Only ten influencers are on board for the beginning. These include influencer @alanchikinchow,basketball player @sedona._ and vice-Olympic champion @jordanchiles.
They can now offer their followers additional content. For a subscription fee, there is access to exclusive live videos and stories. In return, fans will receive a special badge for their account.
Instagram has not reinvented the wheel of paid subscriptions. However, the creatives on the platform should still be happy about the new possibility of earning money.
How much do the subscriptions cost?
If you decide to take out a paid subscription for your favorite influencers, you will have access to stored subscription content such as Stories highlights.
The price for access to this exclusive content can be set by the influencers themselves. For this, Instagram provides an eight-level pricing model.
You can choose between cheap 0.99 US dollars and 99.99 US dollars per month. The influencers are therefore allowed to decide for themselves what their content is worth in their opinion.
Especially in the lower price levels, Instagram leaves room for experimentation. After 0.99 US dollars, the price levels 1.99, 2.99 and 4.99 US dollars follow. Only then does it become higher-priced at $9.99. This is followed by the two penultimate stages 19.99 and 49.99 US dollars.
What could Instagram subscriptions look like in the future?
Already in November, the new function of the social network had been discovered in the app stores. With the launch of the alphabet, Instagram is going into the next round for its efforts.
For starters, the platform – similar to sister company Facebook – does not want to claim any shares of the influencers’ revenues. “For us, the same is true as for Meta – we’re not taking a revenue share until at least 2023,” TechCrunch quotes Instagram’s co-head of product Ashley Yuki as saying.
Our main goal is to help creators make a living. We want to explore all the ways in which we can develop products for monetization.
For this purpose, the subscription models at Meta could also be connected in a next step. It was not until the end of 2021 that Facebook had revised its paid subscriptions.
“This is not yet implemented in this alpha version. But that’s something we could definitely consider for the future,” Ashley Yuki said.
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