2024-03-20 22:04:26
A senior executive at Meta confirmed that the company has proposed reducing the monthly subscription fees for Facebook and Instagram by approximately half, from 9.99 euros to 5.99 euros, with the aim of addressing the concerns of privacy and antitrust regulators.
The proposal to reduce fees comes after a growing wave of criticism from privacy activists and consumer groups for the subscription service that called for avoiding the publication of ads in Meta in Europe, which critics say requires users to pay fees to ensure their privacy.
The technology company launched the service in November to comply with the Digital Markets Law, which limits its ability to show ads to users without their consent, hurting its main source of revenue.
Meta also said that the proposed fee model seeks to achieve a balance between the conflicting requirements of European Union privacy laws and digital markets law.
Meta’s lawyer, Tim Lamb, said in a hearing before the European Commission, “We have wanted to speed up this process for some time because we need to reach a stable situation… so we offered to reduce the price from 9.99 to 5.99 for the basic account and four euros for any additional accounts.”
He also added, “This is the minimum that any reasonable person should pay for services of this quality.” I think this is a serious offer. There is ambiguity surrounding regulatory procedures at the present time and it must be removed quickly.” Companies risk fines of up to 10% of their annual global revenues if they violate the Digital Markets Law.
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