Twitter is one of the major social media platforms in the world with more than 300 million users according to a 2019 report. And like other platforms, one of the ways it makes money is through ads. A new report has revealed that Twitter is considering other forms of increasing its revenue one of which is a subscription service.
A Bloomberg report says that Twitter is developing a subscription product to reduce its reliance on advertising. The report says that this is something it has considered for years and has now gotten more attention following the pandemic and pressure from investors.
Insiders have revealed that Twitter is considering a tipping service that will allow users to pay for exclusive content from some of the accounts they follow. Twitter will get a cut of the earnings. Other possible models include payment “for the use of services such as Tweetdeck or advanced features such as “Undo send” or profile customizations”. Twitter is also said to be considering premium features such as high-quality videos and more in-depth analytic tools. An analyst at JMP Securities even suggested a subscription offering that removes ads or offers more content.
Chief Financial Officer of Twitter, Ned Segal, is said to have mentioned in a call with investors last year that a subscription option would offer sales “durability” compared to ads. The executive did say that they will be picky about it.
Bruce Falck, who is Twitter’s head of revenue products is reported to have said that “increasing revenue durability is our top company objective” and that it “may include” subscriptions.
- Twitter rolls out a fact-checking portal called Birdwatch
- Twitter expands testing of Spaces feature including a few users in India
- TikTok is now officially available for Android TV
ALWAYS BE THE FIRST TO KNOW – FOLLOW US!