Twitter, traditionally funded through advertisement revenue, is experimenting with new forms of income generation, including a monthly subscription service offering unique amenities.
What We Know:
- Twitter made $3.7 billion in revenue in 2020 from advertising alone. Like many other social media platforms, Twitter profits by offering a free service and authorizing brands to advertise products on the platform. CEO Jack Dorsey doesn’t foresee a shift, stating, “We want to make sure any new line of revenue is complementary to our advertising business.”
- Accordingly, the free version of Twitter remains, with Twitter Blue acting as a fully opt-in experience. Users are not required to sign up, Dorsey even suggesting that Twitter Blue is simply an early-stage test to determine what users want. It developed in response to user requests and complaints about the current platform.
Would love a Twitter undo button for like 30 seconds so I can save my clever tweet without deleting it over an autocorrect fail.
— Nick Mattar (@nickomattar) March 6, 2021
- Twitter Blue includes an “undo Tweet” function which permits subscribers to edit a tweet for up to 30 seconds before it is published on the platform. In other words, the 30-second window gives users the opportunity to correct or edit a post prior to public exposure.
- Other features include the bookmark function, text consolidation, app design customization, and premium access to a customer support team. The bookmark function allows users to organize saved tweets into folders for later reference while “reader mode” consolidates long threads into easy-to-read paragraphs. Twitter declares it will “listen to feedback and build out even more features and perks for our subscribers over time,” a move that incentivizes users to pay the monthly subscription fee.
- In Canada and Australia, the service costs $3.49 CAD and $4.49 AUD, respectively. It is not currently available in the United States and a roll-out timeline has not been announced.
The response to Twitter Blue in Canada and Australia will likely determine the roll-out timeline for other regions.
