Twitter announced future plans for the social media website via their virtual event #TWTRAnalystDay which aired Thursday, February 25th.
What We Know:
- Twitter was created in 2006, and ever since, the social media application has been free for all of its users. 15 years later, the company now appears to be gearing up to incorporate a paid product feature. The paid feature will be optional and will give users a way to monetize their tweets by gaining subscribers. ‘Super Follows’ will incentivize users to subscribe to their favorite Twitter creators for a monthly fee of $4.99.
- The social media platform appears to be joining the likes of Facebook, Github, Patreon, Youtube, and Twitch on the subject of direct payment systems. ‘Super Follows’ isn’t currently available but will be launched sometime this year. The new feature is currently projected to double Twitter’s annual revenue. In 2020 Twitter earned $3.7 billion in revenue and was projecting to earn more than $7.5 billion in 2023.
- In a blog post, Twitter stated its mission in January, explaining its new plans to incorporate different ways for people to have conversations. Following the ‘Super Follows’ feature, Twitter will also be adding live audience discussions, a unique group feature, and a way to create longer posts thanks to their acquisition of the newsletter Revue. Twitter acquired Revue in order to jumpstart plans to have creators connect better with their audiences using long-form content. Revue provides a simple way for users to start and publish editorial newsletters.
- ‘Super Follows’ is designed to allow users to earn money thanks to their followers. For their money, subscribers will be able to view additional tweets, and access closed groups. The new group feature’s official name will be ‘Communities‘ and will operate similarly to Facebook’s group feature. There isn’t currently a timeline or release date for any of the aforementioned Twitter features.
For over 15 years, Twitter continues to find new and innovative ways to engage its audiences.
