Twitter announced two new features on Thursday that will allow users to charge subscribers for access to additional content and join groups based on their interests.
Aiming to double Twitter’s revenue by 2023, these two big changes to the social network are part of the “creator economy” model, where users charge for access to their exclusive content. Used on other platforms for a few years, this feature gained popularity during the coronavirus pandemic. Entitled Super Follows, the first paid feature will allow Twitter users to access premium content, in particular by subscribing to newsletters, displaying a support badge or bonus tweets.
On the other hand, this option will make it possible to broaden the company’s source of income so that it no longer depends mainly on advertisements, particularly those of major brands. To do this, Twitter explained that it has completely reformed its ad serving technology and refocused its efforts on how to expand its user base so that it can serve more ads. Twitter’s global vice president of revenue, Matt Derella, said the social platform today derives 85% of its ad revenue from big-brand ads.
Only 15% of the tech giant’s ad revenue comes from performance ads or ads that help small businesses sell their products and services. Twitter also announced its new feature called “Communities,” which will help the company focus on building groups around certain topics, thereby increasing engagement on the platform, Twitter’s consumer product manager said. Kayvon Beykpour.
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