Twitter has announced its first subscription service this month, called Twitter Blue. It will allow people to tip select users & it will also its users to publish & monetize newsletters. There are speculations regarding the launch of the Super Follows feature that would allow users to charge others for select content. The goal of bringing about these changes is doubling up the revenue by 2023 & acquiring a user base of 315 million daily active users. Twitter’s current bets are on creator space. Every social media giant has started making bets on creators. Facebook wants to have millions of creators making a living through its family of apps. Snapchat pays to the people for posting popular content in a short-form video. Pinterest has introduced a creator fund for a group of users. “Twitter makes most of its revenue from ads.
The ultimate goal is to boost user engagement to incentivize advertisers, thus increasing ad revenues,” said Jasmine Enberg, eMarketer senior analyst at Insider Intelligence. Social media needs more creators than artists. The companies would earn supplemental revenue through creator cuts.