TECH - Meta Bows Down to EU Regulations After Apple And Google Cut Subscription Prices for Ad-Free Facebook and Instagram | Benzinga
Meta Platforms Inc (NASDAQ:META) has announced a significant reduction in the subscription fee for its ad-free Facebook and Instagram services in Europe, lowering the monthly cost to 5.99 euros from the initial 9.99 euros.
This decision, revealed by a senior executive at Meta, aims to address the growing concerns of privacy and antitrust regulators.
The introduction of the no-ads subscription service in Europe last November faced backlash from privacy activists and consumer groups, who criticized the company for making users pay to protect their privacy, Reuters reports.
The subscription model came as a response to the Digital Markets Act (DMA), which limits Meta’s ability to personalize ads without user consent, impacting its primary source of income.
The company asserts that the new pricing strategy is an attempt to find a middle ground amidst the ...