Menlo Park, CA – Starting January 1st of 2015, Facebook will begin to charge it’s users $1.99 per month to continue using the most popular social media website in the world.
Facebook founder and CEO Mark Zuckerberg explained to reporters why this move is essential for the company and its users: “If we don’t do something about our rising costs now, Facebook could face an unrecoverable financial burden and become obsolete.”
Zuckerberg had originally planned on making Facebook a pay service by late 2014, but decided to keep the service free for the holidays, through the Christmas season.
Zuckerberg also explained the other incentive, which he believes could benefit the well being of the planet.
“Half the proceeds from the monthly fee will go towards Ebola treatment and research. Obviously the planet is facing an enormous challenge when it come’s to Ebola. We want to do our part and become the leader in fighting this deadly disease before it spreads any further. Our monthly fee will greatly benefit world health.”
Stockholders will also benefit greatly from this decision according to Wall Street analyst Dan Soringer. “Facebook had a total of 1.23 billion users as of mid 2014, with projected growth potentially doubling in the next 5 years. If just 50% of those members pay the new monthly service fee of $2, that will mean an annual influx totalling billions of dollars, even if you factor in the Ebola donation angle. This will be a total game changer as far as company profitibility is concerned.”
Those who refuse to pay the new monthly Facebook fee will have their account terminated and their content permanently deleted after 30 days.
Reaction thus far has caused outrage among users. While many cite their unwillingness and inability to pay for the service, many also believe that Facebook has no legal right to terminate your personal data if you are unable to pay.
But according to social media analyst Ann Randolf, Zuckerberg and company can in fact discard your profile and delete all your content whenever they choose. “If you read the updated terms and conditions, which most users do not do, you will clearly see that your content is owned not by you, but by Facebook.”
This issue of content control has been widely reported in tech media outlets in previous years, with some listing numerous ways on how Facebook actually owns your personal identity.
“It’s a pretty odd conundrum overall”, Randolf says. “Investors love the new fee’s and users hate them, while the world actually benefits from them because of Mark’s philanthropical motive.”