Meta Platforms has delighted its users by a long-awaited decision to cut its monthly subscription fees for Facebook and Instagram from 9.99 euros to 5.99 euros after a discussion with the regulators.

A senior executive of Meta confirmed the matter on Tuesday.

The decision came amid widespread criticism from users after Meta's no-ads subscription service launched in Europe in November last year which required users to pay a fee to ensure their privacy.                                                                                                                     

Tim Lamb, a lawyer working for Meta, said the company has decided to offer the price drop in order to get a steady state of business in this region and the company is also headed to accelerate the process.

Currently, the Facebook and Instagram users who have consents to be tracked get a free service funded by advertising revenues.

Source: Agencies