Meta Platforms reduces monthly subscription fee for Facebook and Instagram in Europe from 9.99 euros to 5.99 euros amidst regulatory scrutiny and concerns over privacy implications.
20 March 2024 – In response to mounting pressure from privacy and antitrust regulators, Meta Platforms (META.O) has announced a significant reduction in the monthly subscription fee for Facebook and Instagram in Europe. The fee will be nearly halved, dropping from 9.99 euros to 5.99 euros, as Meta seeks to address concerns raised by privacy activists and consumer groups regarding its no-ads subscription service.
This price adjustment comes as Meta navigates regulatory challenges and strives to strike a balance between EU privacy laws and compliance with the Digital Markets Act (DMA). Meta’s move to lower the subscription fee aims to address criticisms and provide users with more accessible options while maintaining revenue streams and regulatory compliance. – ref: Reuters
