According
to reports, Instagram is planning to launch a new in-app subscriptions
model. Moving away from the traditional advertisement system for monetisation,
it now allows users to pay for exclusive content from their favourite creators.
The news
was revealed via recent App Store listings. Moreover, in May this year, the
firm’s head, Adam Mosseri, conducted an interview during which he said that the
company is exploring the idea of subscriptions in an attempt to look at
different ways to facilitate a financial relationship between a fan and
a creator. He said, “Being able to subscribe to some differentiated or unique
or exclusive content actually feels more additive as a fan than seeing an ad”.
Now, it
seems that this idea is turning into reality. Instagram's App Store listing
has recently gained new in-app subscriptions. These purchases are listed
as "Instagram Subscriptions" for prices ranging from $0.99 to $4.99.
These would give users the opportunity to pay their favourite creators for
exclusive content that those who do not pay cannot access.
This
subscription model is just one of the many projects by Instagram. The firm has several monetisation
plans in the works. For instance, another one of them is “Exclusive Stories”.
As the name suggests, paying followers will enjoy unique stories.
Photo
credit: RaphaelSilva from Pixabay
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