Twitter is branching out from promoting to seek out extra methods to earn cash — each for itself and for its most prolific customers, whether or not these are companies, celebrities or common folks.
In an investor presentation Thursday, the social media firm introduced a brand new characteristic known as “Tremendous Follows,” which is able to let customers cost for additional, unique materials not proven to their common followers. This may embody subscriber-only newsletters, movies, offers and reductions. Customers would pay a month-to-month subscription price to entry the additional content material.
Twitter customers — and the corporate’s traders — have lengthy been asking it to launch a subscription-based mannequin. This as a rising variety of web creators and influencers use instruments like Patreon, Substack and OnlyFans to earn cash from their on-line recognition.
The subscriptions may also permit Twitter to faucet right into a broader vary of income sources in a world the place internet marketing is dominated by a Fb-Google duopoly. Twitter didn’t element what proportion of the income it will share with celebrities and others who enroll paying subscribers.
“Exploring viewers funding alternatives like Tremendous Follows will permit creators and publishers to be immediately supported by their viewers and can incentivize them to proceed creating content material that their viewers loves,” the corporate mentioned in an announcement.
Tremendous Follows will not be accessible but however Twitter says it would have “extra to share” within the coming months. One other coming product, “Revue,” will let folks publish paid or free newsletters to their viewers. There’s additionally “Twitter Areas,” a Clubhouse competitor that lets customers take part in audio chats. It’s at present in personal beta testing, which implies it’s not but accessible to the overall Twitter viewers.
The San Francisco-based firm additionally mentioned its income purpose for 2023 is greater than $7.5 billion, more than double its 2020 income of $3.7 billion.