Twitter Premium: Twitter To Introduce 'Super Follow' Subscription Model Later This Year
Twitter is discovering more ways to make money apart from advertising - both for itself and for its most prolific users, be it businesses, celebrities, or regular users.
At Twitter's first virtual Analyst Day event, the social media company has announced a new feature called "Super Follow", which would let users charge for additional, exclusive content shown to premium followers. This may include exclusive newsletter, videos, deals, and discounts. Users will pay a monthly subscription fee to access additional content.
Interestingly, the Subscriptions Model will allow Twitter to tap into a wider range of revenue sources in a era where online advertising is hugely dominated by Facebook-Google. Twitter did not elaborate on what percentage of income it would share with celebrities and others who sign up to paying customers.
According to the screenshot provided by Twitter, the membership fee can be $ 4.99 per month. However, the company may allow users to customize their own subscription costs. Twitter's consumer product head said the Super Follows feature will be available later this year.
Additionally, Twitter also announced another soon-to-be-released feature called Communities. With this feature, users will be able to create and join groups of their interests. This will be somewhere similar to the already prevalent Group feature of Facebook.
At the same event, Forecasting its revenue, Twitter said, that it aims to double its annual revenue from 3.7 billion in 2020 to $ 7.5 billion in 2023, as well as increase its daily user growth from the current 192 million to 315 million over the next two years.
