Meta Offers To Reduce Facebook, Instagram Fees In Europe

(RTTNews) - Meta Platforms has offered to almost halve its monthly subscription fee for Facebook and Instagram in Europe following discussions with privacy regulators, reports said.

The tech major is likely to cut monthly subscription fee to 5.99 euros from 9.99 euros for the no-ads subscription service launched in Europe in November.

Meta lawyer Tim Lamb reportedly told a European Commission hearing, "We have wanted to accelerate that process for some time because we need to get to a steady state...so we have offered to drop the price from 9.99 to 5.99 for a single account and 4 euros for any additional accounts."

Meta introduced the service to comply with the Digital Markets Act that restraints its ability to personalise ads for users without their consent.