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Shares of Meta Platforms gained in afternoon trading after a report stated that the company plans to start offering paid consumer subscriptions for its Meta AI chatbot.
At the time of writing, META stock was up nearly 3%.
Meta is launching two paid subscription tiers for its Meta AI chatbot, according to Bloomberg. The first plan, called Meta One Plus, will cost $7.99 per month and is aimed at users who frequently generate images and videos or use the chatbot for advanced reasoning tasks.
A higher-priced plan, Meta One Premium, will cost $19.99 per month and offer the same features with higher usage limits. The subscriptions are initially rolling out in Singapore, Guatemala and Bolivia, with more countries expected to follow.
Users will still be able to access Meta AI for free, but repeated use will eventually hit usage limits. Meta did not disclose the exact limits for each tier, though it said the Premium plan offers significantly higher usage.
Meta has branded its subscription offerings as “Meta One.”
According to a separate report in TechCrunch, Meta has also launched subscription plans for Instagram, Facebook and WhatsApp globally.
The new plans reportedly include Instagram Plus and Facebook Plus at $3.99 per month, and WhatsApp Plus at $2.99 per month. Subscribers will get access to additional features such as profile customization, super reactions and story insights.
Subscriptions still make up a small part of Meta’s overall business, reported Bloomberg. In the first quarter, the company reported $1.29 billion in non-advertising revenue, which includes subscription fees as well as hardware sales such as Meta AI glasses and virtual reality headsets. By comparison, Meta’s advertising business generated more than $55 billion in revenue during the same period.
Retail sentiment on Stocktwits for the META stock is “bearish,” and it has remained the same for the past 24 hours.
Year-to-date, the META stock has fallen 4.5%, while it has declined 1.2% in the past 12 months.
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