Wednesday

Facebook Won’t Be Free for Much Longer – Monthly Fees are in the Works

We all had to know that sooner or later FREE social media networking would come to an end. Well, that end is coming soon.

According to sources, including National Report, Facebook has plans to implement a $2.99 monthly fee to all its users. This fee is to begin this November.

In a press conference in California this past weekend, Mark Zuckerberg broke the news. Rising costs are no match for the Facebook ads revenue. So, a new subscriber fee will be implemented. 

According to the National Report article, Facebook had 1.317 billion users as of August 2014. That's a lot of users.

Expecting some users will be turned off by the fee, they know they'll lose some. But, most likely the majority will stay put and pay.  This means big bucks for Facebook. "If just 75% of those members pay the new monthly service fee of $3, that will mean an annual influx of cash totaling roughly $3 billion. That’s not just an increase in profits of a few dollars, that’s a game changer right there.”

Unfortunately, Facebook is kind of like the 'leader of the pack.' Twitter is close on its heels for much of what the social media giant does. Time will tell which of the other networks will start charging for their services too.

Read the full article at:
http://nationalreport.net/facebook-begins-charging-users-2-99mo/#sthash.aMeGIyW0.dpuf

Related sources:
Facebook to Charge $2.99 Per Month
Facebook to Charge

NOTE: The internet has reliable and not-so reliable sources. There are also reports that the Facebook news isn't true. To be honest, I'm not absolutely sure which is correct.

The Facebook Newsroom doesn't have any information on the topic.

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6 comments:

Susanne Drazic said...

Thanks for sharing this info Karen. When you stop and think about it, at $2.99 per account, that can get expensive for some families.

Karen Cioffi-Ventrice said...

Susanne, I hadn't thought about families with multiple accounts. You're so right.

widdershins said...

Obviously they're not generating enough income selling 'metadata' to third parties ... poor Facebook.

Allyn Stotz said...

Poor Mark, being a billionaire just isn't cutting it anymore! However, I'll probably pay the fee because I need facebook for marketing and keeping up with friends. Makes me sad though that I'm sure I'll lose contact with many of those friends that can't afford the monthly fees. Yet, maybe some of the dumb stuff people post will be lessoned. That would be nice.

Karen Cioffi-Ventrice said...

Widdershins, yeah that and their ads are working out as well. Rising costs and blah, blah, blah.

Karen Cioffi-Ventrice said...

Allyn, there will be many that will pay to keep their FB access, but keep in mind that with their new algorithm less and less of your postings will be visible to your followers. I think it'll be around 2% or so.
The sad thing is FB is the leader of the pack and I'm sure this will trickle down to the other social media networks.