Facebook recently confirmed that it will begin to charge its partners to post “Offers” on the social network. The company’s Offers option currently allows retailers to post deals on the social network. However, Facebook used to provide this service for free. The big news here? Facebook is finally going to monetize the service, which will result in additional revenue. Wall Street has long been looking for Facebook to announce fresh ways to generate income. The social network will charge a minimum of $5 per offer, Reuters said Thursday morning.
“We think this aligns incentives nicely,” Facebook’s advertising and Pages director Gokul Rajaram said in an interview with Reuters. “The best results on Facebook Offers will come from organic distribution plus paid distribution. The requirement to pay for related ads will focus merchants on who and where they want the offer to reach.”
The social network will also open Offers up to online retailers, instead of only those with brick and morter locations, and will soon provide barcodes for redeeming the offers.