Meta Platforms (NASDAQ: META), the owner of Facebook, Instagram, and WhatsApp, makes nearly all of its money from ads. As of Oct. 22, the stock is down about 10% from its September high of $779.82. This is despite a strong third-quarter earnings report, with revenue growing 26% year over year. One reason I see the dip as a buying opportunity is that Meta is building new revenue streams that could make it an even stronger business over time. Meta's non-ad revenue from its apps grew 59% to $1.1 billion. Management said this growth came mainly from WhatsApp paid messaging -- businesses paying to message their customers on the app -- and subscriptions. Another non-advertising revenue stream is Meta One, a subscription service that unlocks extra features across the company's apps, which has passed 15 million subscriptions and trials. That's less than 2% of Meta's total revenue today, but it's growing more than twice as fast as the company overall.
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