Facebook and Instagram owner Meta is considering a paid subscription in the UK which would remove adverts from its platforms.

As per Meta's latest quarterly financial results, advertising accounts for more than 96 per cent of its revenue.

European users would have the option to pay a fee or agree to personalized ads, according to the company’s pitch to regulators.

Meta currently estimates 258 million monthly Facebook users and 257 million Instagram users for the first half of the year in the EU.