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BREAKING NEWS & VIEWS
Facebook Offers App SubscriptionsFriday, June 22, 2012 While magazines haven't exactly rushed to create Facebook apps, perhaps some changes to the social network's monetization policies will offer some incentive to do so. Starting next month, app developers will be able to sell subscriptions to their Facebook.com and mobile web apps. The company is also transitioning away from its "credits" system to allow users to make purchases—including in-app—with their local currency. Subscriptions allow app creators the chance to "establish a recurring revenue stream and offer updated content or premium experiences for a monthly fee," according to a post on Facebook's developers blog. Apparently following Apple's model, Facebook keeps 30 percent of all app revenues. The support of local pricing is designed to "simplify the purchase experience," says the blog, and allows app creators to set prices for the same item differently market-to-market. It is also intended to help developers set "more granular and consistent prices for non-US users." Editor's Note: this story appeared originally at minonline sister publication FOLIO:. If you have breaking news to share please contact min’s editors.
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