BeReal is considering adding paid features, as reported by the Financial Times. The company might start monetizing the platform by adding in-app purchases.
rupixen.com on Unsplash
BeReal has grown significantly and has reached over 15 million daily active users, and it could reach tens of millions of people by the end of the year. The consideration of paid features is prompted by investors trying to ensure that the platform isn't only a passing fad.
However, the app's main photo-sharing service will still be free to use, and its in-app purchases might be similar to a premium Discord membership, where users need to pay a monthly fee for bonuses.
This isn't final yet, and if the platform does push through with in-app purchases, it will likely be next year. For now, the platform's goal is to improve its usability of the platform by fixing glitches that come with the millions of users that are on the app.
BeReal's push for in-app purchases is part of a trend in social media platforms aiming to convert to a subscription model for users to view content. Platforms such as Facebook, Instagram, and YouTube have been implementing various ways of making money off their platforms without actually selling the product.
Users have been exploring ways to get their content out there without relying on traditional advertisements. They've had to find other ways to make money, such as charging a fee.
While this is not the most popular option, it does have its benefits. For starters, it could reduce the number of advertisements on the platform, which many users find to be excessive.
BeReal's largest competitors are apps like Instagram and YouTube, which are able to make money off advertisements. By implementing a subscription model, BeReal can do things like limit how many advertisements appear on a platform to reduce the number of advertisements that users see.
While the future of social media monetization may be subscriptions, BeReal is not just simply copying what other platforms have done. The company's decision to consider in-app purchases might come with a different approach than the implementation of subscriptions on other platforms.
BeReal is looking to grow further by providing features that users can pay for. For example, the app could be looking to add optional features such as a free trial and free memberships. The platform hasn't provided any solid details on what their in-app purchases would be, so it's still too early to say anything.
In-app purchases on social media platforms are becoming more and more common, and BeReal might be the first to come out of the gate with a subscription model. The company is looking to monetize the platform, and in-app purchases might provide a better way for the app to monetize its massive user base.
