Instagram appears to have taken a page from Patreon’s book and is allegedly toying with the idea of introducing a subscription model, a change that has been under consideration since the beginning of this year. To this end, the company has in-app purchase options for “Instagram Subscriptions ”, as first discovered by Sensor Tower and Apptopia.
The new “Instagram Subscriptions “IAP can be seen on the page Instagram App Store listing with subscription prices between $ 0.99 and $ 4.99 in the US. Instagram may have made the subscription model available as a test because the new feature was not officially announced.
The subscription feature will open up a new source of income for content creators. Instagram previously only offered in-app purchases for Instagram Badges that users could use to support YouTubers by purchasing a virtual badge during their livestreams. It is now rumored that only subscribers will be offered perks such as exclusive stories and live videos.
The head of Instagram, Adam Mosseri, alluded to during Creator Week Earlier this year that it was working to help YouTubers make more money. He promised new ways for monetization like custom badges, tips, subscriptions, and even NFTs to make this possible Instagram Users to fund creators. Instagram could be the perfect platform to showcase NFTs and thus create another channel of revenue for the creators.
It looks like Big Tech has its eye on a slice of the subscription pie. Twitter, with Twitter The Blue subscription service launched a monthly subscription model in June this year. Instagram could soon follow in his footsteps.
Would you be interested in paying a small premium to get a glimpse into the life of your favorite influencer? Or are you annoyed by the increasing number of social media companies blocking content behind paywalls? Let us know in the comments below.