The social media giant says they will start charging members $2.99/mo to use the services that the site has to offer.
“After thinking long and hard about this decision, at the end of the day, we were forced to add this monthly fee,” Facebook founder and CEO Mark Zuckerberg told reporters. “If we don’t do something about our rising costs now, Facebook could cease to exist in the near future.”
In an interview with CNN, Facebook spokesman Paul Horner explained the reason for the new monthly fee.
“Economic times are tight, the ads on Facebook are not as profitable as we had planned. Our costs are going up as hundreds of thousands of individuals continue to join the site every day,” Horner said. “There’s so many pictures of cats, and all of those costs add up, we just can’t foot the bill any longer.”
Jack Phillips from Dequincy, Louisiana told reporters that he is not happy with the new monthly fee that will be implemented by Facebook.