Facebook has become a modern media consumption platform for many people, making news from outlets easily accessible and free at all times.
Having said that, the social media platform is ready to pivot from its free news distribution by introducing a subscription service, which will be tested out this October.
In other words, Facebook will be limiting the number of published news stories that can be read free of cost from news outlets that have opted for subscription payment models.
Yahoo Finance claims that Facebook is ready to make more money off its platform, telling the publishers that they will be allowed to show at least 10 free stories per month before the paywall kicks in.
Campbell Brown, Facebook’s head of news partnerships, said:
One of the things we heard in our initial meetings from many newspapers and digital publishers is that we want a subscription product—we want to be able to see a paywall in Facebook.
And that is something we’re doing now. We are launching a subscription product.
Facebook is testing out various ways to boost its revenue such as Instant Article service, which bitterly disappointed the publishers. Furthermore, the social media website is also testing mid-roll video ads with a handful of publishers that it plans to eventually roll out to everyone.
The public is still waiting on additional details regarding the changes being introduced by Facebook, but the company guarantees that the publishers will retain full access and control over their subscriber data.