Meta Platforms is rolling out WhatsApp Plus, a premium subscription, to monetize WhatsApp's 3.3 billion users with high-margin recurring revenue. WhatsApp Plus, priced at ~$2.99/month, could generate ~$2 billion in annual revenue at a 1.5% conversion rate, with nearly 100% gross margins. While $2 billion is modest relative to Meta's topline, this revenue could drive a ~2.5% immediate increase in operating income and shift market valuation perspectives.