Facebook to allow subscriptions to newspaper and magazine apps
FACEBOOK has turned on the capability to allow people to subscribe to apps such as newspapers and magazines.
Until now people have been only able to purchase virtual items through Facebook apps. However, as of next month, Facebook has made it possible for people to pay to subscribe to an app – whether it be a game or a magazine.
Facebook will still pocket 30 per cent of all subscription revenues, as it does with any in-app purchases which happen on the site at the moment. The lowest price a subscription can be priced at is $1.
The company made the announcement on its developer blog last night: “Many developers successfully monetize their apps with one-time purchases of virtual items. Beginning in July, we are launching subscriptions as another way for you to build your businesses on Facebook. With subscriptions, you can establish a recurring revenue stream and offer updated content or premium experiences for a monthly fee.
“This new feature will be available to all Facebook.com and mobile web apps in July.”
Facebook has also announced that items for sale on the site via apps will now be priced in the local currency. It is the company’s first major step away from Facebook Credits, the site’s currency.
The move brings monetary exchange more in line with how Apple and Google trade in their respective app stores.