Twitter will soon start testing several new features, among them a subscription based service called “Super follow”
The feature will allow frequent users earn revenue from followers by offering exclusive content. These content may be in form of “bonus tweets, access to a community group, subscription to a newsletter, or a badge indicating your support.” the company said.
Twitter unveiled the new feature during its annual analyst Day presentation when it showed a mock screenshot of a super follow account charging $4.99.
“Exploring audience funding opportunities like Super Follows will allow creators and publishers to be directly supported by their audience and will incentivize them to continue creating content that their audience loves,” a Twitter spokesperson said in a statement.
Twitter has been generating a majority of its revenue through ad sales and data licensing. However, Chief Executive Officer, Jack Dorsey is under pressure from activist investors to accelerate the platform’s business.
According to the regulatory filings, the company is projecting an increase in its revenue from $3.7 billion in 2020 to $7.5 billion or more in 2023. Twitter is also projecting that daily users on the platform will increase to 315 million by the fourth quarter of 2023.
Dorsey said that in the past, the company has not been innovative, but they were now aiming to increase “development velocity” through its employees to “directly drive either mDAU or revenue.”
A subscription service offering additional special features to the most for frequent users could boost revenue especially at this time when advertising budgets are at a low.
The company has not divulged any details as to when the tests will start or when the service will be launched.