Twitter has confirmed its long rumoured monetising capability for both itself and its ‘power’ users, with a forthcoming feature that will allow those users to charge followers for additional content.
The micro-blogging platform earlier this month was reported as exploring an option to allow its users to receive tips or digital payments from their followers.
And Twitter this week has officially unveiled its plans at a virtual event held for investors, the BBC reported.
It comes after Bloomberg reported earlier this month that Twitter was building a subscription product as a way to ease its dependence on advertising, and is also considering adding charges for ‘power’ users of the platform.
That monetising development should not come as a surprise.
In July 2020 CEO Jack Dorsey confirmed the platform was actively exploring additional ways to make money from its users, including a possible subscription model.
Twitter also revealed it is testing a live audio discussion service called ‘Spaces’, which is a Clubhouse competitor that lets users participate in audio chats.
Twitter during its investor presentation on Thursday, said that the super follow feature will let users charge for extra, exclusive material not shown to their regular followers.
This can reportedly include subscriber-only newsletters, videos, deals and discounts. Users would pay a monthly subscription fee to access the extra content.
Twitter did not reveal percentage of the revenue it would take from these ‘power’ users (celebrities etc) who sign up paying subscribers.
However, investors have been calling for this for some time, to give Twitter more revenue streams.
Dorsey hopes these features will allow the social media platform to earn more money and engagement from its base of 192 million daily users.
Neither Super Follow or Spaces is available yet.
Twitter will also reportedly launch product called “Revue,” which will let people publish paid or free newsletters to their audience.
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