Facebook has announced that they will be offering app developers a way to charge for subscriptions. This is great news for the social network because it will create a new revenue stream for the company since they will earn a 30% cut. Game companies will get recurring revenue from their users too.
The subscriptions will be priced in local currency instead of in Facebook Credits. Credits have not become the standard method of payment since most of the games on their platform have their own virtual currency. Facebook will be launching the program in July and they have started testing subscriptions with Zynga and Kixeye.
Facebook made 83% of their revenue from ads in 2011, which was $3.7 billion. The rest was from goods purchased through apps.