Is social media really starting to charge fees for privacy? Check the facts
Rumors have been swirling for years that Facebook will start charging. Before, it was fiction. Now? Well, it’s looking more like fact.
You can thank the latest European Union (EU) privacy regulations — and I mean that. These new regulations do a lot to protect the sensitive data of consumers like you and me.
But Meta (the company that owns Facebook, Instagram and WhatsApp) wants privacy to come with some not-so-great fees. And it’s not the only social media company trying to do it. Here’s why.
Facebook’s $14 threat
On one side, you’ve got the EU, which wants to protect people from targeted ads. As you know, social media companies (and others) track your online behavior and use that data for on-site ads. If you search for Victoria’s Secret products, you’re gonna start seeing some skimpy lingerie next to grandma’s cat memes.
On the other side, you have Meta, who likes using that data to sell ad space to other brands or analyze users. Instead of agreeing to the new privacy requirements, they’re putting up an ultimatum: Either EU users agree to personalized ads or pay $14 per month to not be targeted by any ads at all.
The same goes for Instagram! And you can bet Meta is considering similar ad-free price tiers for its other apps, especially if privacy laws continue to amp up.
And the survey says … You’ll pay for privacy
Why does Meta think it can get away with this? Why is X hiding two-factor authentication (where you get a code to confirm your identity) behind a paywall? Why does Facebook already charge influencers for verification? Because research says privacy is a commodity.
- 42% of U.S. consumers say they’re OK with paying up to $12 a month for total social media privacy.
- If you’re older than 25, you’re willing to pay the most for private social media, followed by the 35 to 44 age group.
- Our Android friends are more willing to pay more for social media privacy than our iPhone buddies.
The takeaway here: There is a market for these subscriptions. Meta is following what it thinks will make money. Fortunately, we’ve got options.
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