Meta Platforms reportedly may start charging users to receive ad-free versions of their popular social media products.
The Wall Street Journal reported it wants to charge about $14 a month to use Instagram on phones, or $17 per month for both Facebook and Instagram on desktops, just in Europe.
New European rules require user consent before showing personalized ads. The report said Meta officials detailed the plan with privacy regulators in Ireland and competition regulators in Europe.
Without confirming the report, Meta in a statement said it was exploring options to ensure it can comply with evolving regulatory requirements.
Europe last year accounted for 22% of Meta’s revenue.
Meta
META,
shares this year have surged 155%, outperforming the 12% rise for the S&P 500
SPX.
This story originally appeared on Marketwatch
