Microblogging site Twitter said it plans to introduce a subscription service that requires users to pay for private content from high-profile accounts as part of their economic model to diversify their revenue.
At its annual investor conference, the world-renowned social media platform announced the possibility of a new super follow-up service to look for new sources of revenue beyond targeted advertising.
Benefits of Super follow
“By exploring viewer funding opportunities such as SuperFollow, creators and publishers can get direct support from viewers and motivate them to continue creating the content they love,” a Twitter spokeswoman said. The person in charge told AFP.
Twitter said it was looking for new features to make money, such as paid and paid subscriptions to “super follow” some accounts. A spokeswoman said a second feature would be launched this year that would allow users to request followers access to additional content.
She also added that the site, which is often used to broadcast short messages to a wide audience, is building more ways for people to have conversations.
This can be done by hosting live audio discussions using the Spaces feature, which has been tested by about 1,000 users and sharing longer content using Revue, a newsletter publishing service acquired by Twitter last month. Includes doing so.
We are also considering allowing the creation of “communities” of specific interest.
Kayvon Beykpour, president of Twitter’s consumer goods division, said creators will be able to customize the community, including setting and implementing “social norms” that go beyond Twitter’s rules.
The effort helped Twitter reach its goal of achieving at least 315 million daily active users (mDAU) or ad-viewing users by the fourth quarter of 2023, just like ByteDance’s TikTok. It aims to stay on top of the popular applets. The fast-paced videos attract viewers around the world.
Twitter’s top executives also discussed SuperFollow in a streaming presentation, setting out goals and plans for the near future.
How Super follow help in Revenue
A spokesperson said, “We are investigating and rethinking incentives for our services. The features of our products are actions that encourage and discourage people when they participate in Twitter conversations.”
SuperFollow was touted during the show as a way for Twitter viewers to financially support creators, receive newsletters, exclusive content, and even virtual badges.
Twitter, which is currently generating revenue from adverts and posts, may be able to add additional revenue through SuperFollows transactions.
No timeline has been set on when SuperFollow will be shown, but the tech giants are expected to announce more in the coming months.
Twitter launches new features and products faster to catch up with competitors on Thursday, doubling annual revenue in 2023, reaching at least 315 million users, and expanding its 5.6% share Announced that.
In an Investor Day presentation, CEO Jack Dorsey said: “Comparing us to our peers, it’s particularly tough.”
Twitter, like Google and Facebook, derives most of its revenue from digital advertising.
Social media networks estimate annual revenues of at least $ 7.5 billion by the end of 2023.
Twitter’s share price rose more than 4% late Thursday afternoon to $ 75.16, a record high of $ 80.75.
Meanwhile, Twitter faces challenges in the fast-growing market of India, with plans to require social media companies to clear certain content and coordinate with law enforcement agencies.
Twitter had previously refused to remove content related to peasant protests in India.