Facebook to let developers charge subscriptions
NEW YORK – Facebook is letting app developers charge subscription fees, in addition to existing one-time payments, for games and other applications on its site.
Facebook Inc. said on its developer blog Tuesday that the subscription feature will be available in July. The changes open up a new revenue stream for developers as well as for Facebook, which takes a 30 percent cut from all payments on its site.
People will still able to make payments on a one-time basis. Facebook is also replacing its own Credits currency with users’ local currency. So U.S. users will pay in dollars and those in Japan will pay in yen.
Payments for virtual items, such as chips on “Zynga Poker,” accounted for 17 percent of Facebook’s revenue in the first quarter.
Recent Stories:Stone Temple Pilots sue ex-frontman Scott Weiland 4 mins elapsed Ex-Guatemala president extradited to US 40 mins elapsed Toronto mayor denies he smokes crack cocaine 49 mins elapsed Cannes: Dern a leading man again in ‘Nebraska’ 2 hours elapsed Seamen may file complaints at sea 3 hours elapsed Rescue of Russian mountaineer from Mt. Mayon proved costly 3 hours elapsed PCG report on grounded US ship due 3 hours elapsed Ninoy Aquino’s birthday is ‘Day of Reading’ 3 hours elapsed