Investing.com -- Meta Platforms shares traded higher Wednesday, gaining over 1.1% following a TechCrunch report that the company is launching premium versions of its main products.

The social networking company is set to roll out consumer subscription plans globally for Instagram, Facebook, and WhatsApp. Meta is also beginning tests of new subscriptions for businesses, creators, and Meta AI users.

Instagram Plus and Facebook Plus will each cost $3.99 per month, while WhatsApp Plus will be priced at $2.99 per month. Subscribers will receive access to additional features including profile customization, super reactions, and story insights.

More features will be added in the future.

The company will begin testing professional plans for creators and businesses, along with AI-focused plans for all users. These new offerings will be branded as Meta One, which will serve as the company's home for subscription offerings.