Twitter is reportedly trying to generate new revenue streams by offering premium features through a monthly subscription.
A report from Bloomberg said the motivation for adding subscription-based functionality is to reduce Twitter's reliance on advertising.
This is something Twitter has wanted to do for years, says Bloomberg, since a lot of the company's revenue comes from advertising.
The pandemic accelerates Twitter's plans to diversify its revenue streams and the realization that user growth is gradually plateauing in the US.
With the US being Twitter's most valuable market, the company cannot count on increasing revenue from the traditional method of adding new users.
People "familiar" with the effort tell Bloomberg that Twitter is actively researching subscription offers.
Read on below
Twitter publicly explored this idea last year through polls asking users what they would like to see from a subscription service.
Ideas considered at the time were an undo feature, custom colors, longer video uploads, special badges, auto-replies, and others.
An option to pay Twitter to see fewer ads was also discussed, but nothing came from these proposed premium offers.
As detailed in Bloomberg's report, there are all the premium features Twitter considered, as well as new ideas on the table that could result in some of the revenue going to content creators.
Read on below
Learn more about the potential subscription-based features Twitter is reportedly discussing internally here.
What would Twitter offer in a subscription?
A subscription fee would give users access to features that are currently unavailable.
Of course, anything users can do with Twitter right now will remain free. With one exception.
Twitter is considering putting Tweetdeck behind a subscription paywall. That means you have to pay to use it in the first place, with or without additional features.
Tweetdeck is currently free, but not required to access Twitter. It is an additional tool for power users.
Twitter has thought of billing Tweetdeck before, but never went through it. Although the idea of paying for an advanced tool in order to take advantage of an otherwise free service is well received in digital marketing.
There are many premium third-party tools in the market that allow social media managers to use Twitter, Facebook, Instagram, and other social networks more efficiently. As such, it's not uncommon for Twitter to charge a Tweetdeck fee.
Advanced Analytics is another premium feature that Twitter could potentially offer through subscription.
Users currently have access to basic analytics, such as: B. how many followers they gained in a month and how many impressions their tweets received.
An expanded set of analyzes can include demographic data, times when an audience is most active, and more detailed data compared to what is currently available.
Twitter could potentially offer exclusive content for a fee. The company recently acquired Revue, a newsletter startup, which could be an indication of Twitter's plans to move in that direction.
Read on below
Another idea that is being discussed is to "tip" users in exchange for content that is not available to everyone. Twitter would get a cut, but this could allow users to make money on Twitter for the first time.
As far as I know, adding an edit button as a premium feature has not been discussed. If Twitter ever needed an immediate increase in revenue, one way would be to charge users a fee for handling tweets.