For the past montgs, or even up to a year back, Facebook has been rigorously working on adding new features that would enable more interest in the platform, and that of their other products too. Even if some of the features were a result of copycating, they have been successful so far.
And now they are hinting us on another one because according to The Wall Street Journal, the social network is building a feature to allow its users to subscribe to various news publications. Obviously, there are still details that have not been announced, but Wall Street has it that the feature will be available at the end of 2017 through the Facebook’s mobile app.
According to them, the company might be on the verge of adopting a model that would let you read certain articles for free every month, before you are being prompted to pay. The modalities for payments would be processed and whether Facebook would get a cut of the revenue (which I’m sure they would) are items that are still cooking in the pot.
I must say that facebook has been overly creative when it comes to increasing user engagement, and improving their revenue too. They are definitely nothing short of a big, creative and growing company.
If (when) Facebook launches this upcoming feature, it would definitely be the love of publishers who have always emphasized the need for digital subscriptions to power revenue growth, including the The Wall Street Journal, the New York Times, the Washington Post and the Financial Times. But then, I doubt if it would fly in Nigeria as many of us want things for free, and might not be a party to this.
In a statement, Facebook said that, “We’re working with partners to understand their business and explore ways we can help them drive more value from Facebook. We are taking the time to deeply understand their different goals and needs,”
Well, all I want to say is thumbs up MARK.