TWITTER TO ADD PAID SUBSCRIPTION FEATURE FOR A/CS
SAN FRANCISCO: Twitter Inc said on Thursday it was exploring new money-making features, including tipping and paid subscriptions to “super follow” some accounts, as part of its plant to catch up with rivals and double its annual revenue to reach at least 315 million users by 2023. The social media giant will also launch a feature that will let users charge their followers for access to additional content.
SAN FRANCISCO: Twitter said on Thursday it plans to offer a subscription service in which users would pay for special content from high-profile accounts, part of an economic model to diversify its revenue.
The popular social media platform announced the potential new “Super Follows” service at its annual investor meeting, as it searches for new revenue streams beyond targeted advertising.
“Exploring audience funding opportunities like Super Follows will allow creators and publishers to be directly supported by their audience and will incentivise them to continue creating content that their audience loves,” a Twitter spokesperson told AFP.
Top Twitter executives discussed Super Follows while outlining goals and plans for the near future during the streamed presentation. “We are examining and rethinking the incentives of our service - the behaviours that our product features encourage and discourage as people participate in conversation on Twitter,” the spokesperson said.
Super Follows was described during the presentation as a way for Twitter audiences to financially
support creators and receive newsletters, exclusive content and even virtual badges in exchange.
Twitter, which currently makes money from ads and promoted posts, might be able to add additional revenue via the Super Follows transactions.
Creative Strategies analyst Carolina Milanesi was not convinced people will be inclined to pay for special content on Twitter. Such a model makes sense for content on platforms like Youtube, where hours of craftsmanship might be devoted to producing entertaining videos, but it is debatable whether the same could be said for tweets on Twitter, she said.
No timeline was given for when Super Follows might become a feature, but it is expected that the tech giant will make further announcements in the coming months.