From the Meta release:
Meta will offer people in the EU, EEA and Switzerland the choice to pay a monthly subscription to use Facebook and Instagram without any ads. They can alternatively continue to use these services for free while seeing ads that are relevant to them.
In November, we will be offering people who use Facebook or Instagram and reside in these regions the choice to continue using these personalised services for free with ads, or subscribe to stop seeing ads. While people are subscribed, their information will not be used for ads.
People in these countries will be able to subscribe for a fee to use our products without ads. Depending on where you purchase it will cost €9.99/month on the web or €12.99/month on iOS and Android. Regardless of where you purchase, the subscription will apply to all linked Facebook and Instagram accounts in a user’s Accounts Center.