The world’s widely-used microblogging site Twitter acquired subscription-based service Scroll earlier this month. Over the weekend, they Jane Manchun Wong tweeted that Twitter’s paid service will be called “Twitter Blue”.
Twitter is calling their upcoming Subscription Service “Twitter Blue”, priced at $2.99/month for now, including paid features like:— Jane Manchun Wong (@wongmjane) May 15, 2021
Undo Tweets: https://t.co/CrqnzIPcOH
Collections: https://t.co/qfFfAXHp1o pic.twitter.com/yyMStpCkpr
Since the majority of revenue earned by Twitter comes from targeted advertising, Twitter is religiously working towards creating a subscription product as a way to ease its dependency on advertising. With an aim to explore potential options outside ad sales, Twitter has deployed several teams to research subscription offerings, including one using the code name “Rogue One.” The
social media network is currently looking at the concept of “tipping,” or the ability for users to pay the people they follow for exclusive content. Other avenues for revenue collection seem to include charging for the use of services like Tweet deck or advanced user features like profile-customization options or “undo send”, etc.
Why look for a new revenue generation model?
Although social networks have conventionally stayed free as a way to promote user growth and engagement, Twitter Chief Financial Officer Ned Segal said, “A subscription option of some kind would offer sales “durability,” and recurring revenue is more consistent than advertising spending.” He has clarified that Google would be very picky about the new subscription model and stated that it has set a high bar for when the company would ask consumers to pay for aspects of Twitter.
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What convinced Scroll to join Twitter?
As mentioned by Scroll in its official blog post, “Twitter exists to serve the public conversation. Journalism is the mitochondria of that conversation. It initiates, energizes, and informs. It converts and confounds perspectives. At its best, it helps us stand in one another’s shoes and understand each other’s common humanity.”
Scroll is currently working towards taking its model and enhancing it it so all Twitter users can enjoy the internet without “friction and frustration.” It now seems that Twitter is planning to use the former’s subscription model to offer access to an ad-free timeline in a way that shares revenue with content creators.
With all the latest developments, the social network’s subscription-based product vision seems clearer. However, we will all have to wait for a while to actually experience the new Twitter subscription model.
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