Shares of Meta Platforms (NASDAQ: FB) rose 2.2% after announcing plans to monetize Instagram through a new subscription service for popular creators. This move aims to create a new revenue stream for Meta, potentially boosting its stock value. Investors are optimistic about the growth prospects this could bring.

The new “subscriptions on Instagram” service will allow influencers to sell access to exclusive content to their followers, providing a way for them to make money on the platform. This initiative could benefit well-known personalities such as @jackjerry, @sedona, and @lonnieiiv, offering them a new income source. Meta Platforms stands to gain from a share of the subscription earnings.

By introducing subscriptions on Instagram, Meta Platforms could see increased growth potential, making its stock more attractive to investors. With a projected long-term earnings growth rate of 21% and a PEG ratio of 1.0, Meta stock could become a valuable investment opportunity. Shareholders are enthusiastic about the company’s strategic move to expand revenue streams.

Read more at Nasdaq: Why Meta Platforms Stock Popped Today