Technology giant Meta Platforms (NASDAQ:META) said on Monday it has introduced an advertisement-free subscription plan for Facebook and Instagram users in Europe. The company, which owns and operates Facebook, Instagram, Threads, and WhatsApp, said the ads-free service brings it in compliance with European Union regulations and policies.
Indeed, the California-based company has faced Data Privacy and regulatory issues in Europe. The regulatory restrictions threaten to limit Meta’s capacity to tailor advertisements for users without their agreement, which could likely affect the company’s primary source of revenue.
According to Meta, users will have the option to either subscribe to stop viewing ads or continue using Facebook or Instagram for free starting in November. Per the announcement, Web users will pay 9.99 euros ($10.58) each month for the subscription plan, while iOS and Android users will have to pay 12.99 euros per month.
Is Meta a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Strong Buy consensus rating on META stock based on 29 Buys, one Hold, and zero Sell assigned in the past three months, as indicated by the graphic above. Furthermore, the average META price target of $388.04 per share implies a 27.57% upside potential.
