Twitter has announced that in the coming months it plans to launch a new feature called “Super Follow”, which will allow its users to charge their followers to access exclusive content, which will not be freely available to others.
Also, it progresses “Spaces”, competitive of “Clubhouse”, which enables users to participate in audio chats. “Twitter Spaces” is in the process of private testing by 1,000 users and is still not widely available to users.
Twitter is looking for new ways, beyond advertising, to make more money for both itself and its most productive users. In this context, as announced in an online briefing for investors and analysts, according to “Reuters” and the “New York Times”, the social networking platform will allow some users, e.g. celebrities and influencers, to charge other users for extra content and exclusive material, such as subscription newsletters, videos, special discounts, etc.
Interested users-followers, according to the ANA-MNA, will pay a monthly subscription fee to access this content, which non-subscribers will not see.
Twitter has not revealed what percentage of the subscription fee it will keep to itself. But it said it aims to reach $7.5 billion in total revenue in 2023, more than double the $3.7 billion in revenue in 2020. It also aims to reach by 2023 —from about 192 million today— the 315 million active daily users who see ads, thus generating revenue on the platform.
Twitter’s stock —which has climbed more than 100% in a year— moved up again on the US Stock Exchange following the new announcements. The last major change the platform made —which started in 2006— was in 2017, when it doubled the number of characters allowed in users’ tweets.
As chief executive Jack Dorsey said:
“we are criticized for being slow, not innovative and they do not trust us.”
That is why it is now time for new important changes and experiments. Among other things, in 2021, user communities will also be launched, allowing Twitter users with common interests to connect.
How truly successful the new policy will prove, will be seen in the future, according to some more cautious analysts.
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