Twitter plans to introduce a subscription service for content creators and said it would explore tipping, as it looks to double its annual revenue and accelerate user growth over the next few years, the Wall Street Journal reported, citing a company announcement made during an online event for analysts. Twitter said it wants to reach at least USD 7.5 billion in revenue by 2023, up from 3.7 billion made in 2020. The company expects its daily user base to increase to at least 315 million by end-2023, an advance of around 20 percent per year.
The Super Follows subscription initiative would give the ability for users to charge their followers for access to additional content. The feature is expected to start this year. Twitter executives did not give any details about tipping, nor when it might come out. They also did not disclose how much of a percentage the company would take from sales for that feature or Super Follows. Dantley Davis, Twitter’s head of design and research, said that “an audience-funded model where subscribers can directly fund the content that they value most is a durable incentive model that aligns interests of creators and consumers.”
Twitter also announced a new feature called Communities, which appears to be its take on Facebook Groups, the Verge reported. People can create and join groups around specific interests, such as cats of plants, and then see more tweets around those topics. No date has been given for the start of this service.
