Twitter to Roll Out Paid “Super Follow” Feature That Lets Users Charge for Content
As per its latest announcement, the microblogging platform Twitter is planning to roll out a “super follow” feature that allows users to charge their followers if they want to gain access to their exclusive content. Twitter said that it would be releasing this function later this year.
The step comes as the social networking site is looking to broaden its horizons to discover more ways to earn profit for itself as well as its content creators. Currently, advertising stands out as Twitter’s primary source of revenue.
On Thursday, in an investor presentation, the social media company revealed that this new feature would allow users to charge followers for access to additional and exclusive content which won’t be displayed to the normal followers. This exclusive material can incorporate subscriber-only deals, videos, discounts, and newsletters. People opting for this “super follow” feature would have to pay a subscription fee per month to see the exclusive content from their favorite creators or users.
At the beginning of the virtual presentation, the Chief Executive Officer of Twitter, Jack Dorsey, said that there are three critiques of why people don’t believe in them: they are slow, they are not innovative, and they are not trusted.
Twitter users, as well as its investors, have been asking the company to roll out a subscription-based model for a long time now. That’s because an increasing number of influencers and content creators have been using different tools available in the market to profit from their massive internet popularity.
Moreover, these monthly subscriptions will let Twitter tap into a more extensive range of revenue sources in a realm where giants like Google and Facebook rule online advertising. However, the company did not disclose the percentage of the total revenue it would be sharing with the celebrities, influencers, and other public figures who gain such paid subscribers.
Adding to their statement, Twitter said that seeking audience funding opportunities such as “super follow” will let content creators and other public figures get the direct support of their fans and followers, who’ll incentivize them to keep on producing engaging content the audience loves to see from them.
Nevertheless, this new feature “super follow” isn’t available for the time being, but the company said that it would have more to share with the users in the upcoming months.
Another upcoming feature called “Revue,” will allow users to post free or paid newsletters to their audience. “Twitter Spaces” is yet another coming product that enables people to join audio chats. However, this feature is currently in the beta testing phase, meaning it hasn’t been made available to the general public yet.
WRAPPING IT UP
The popular microblogging platform Twitter seems to have some big plans for this year. The company has announced a new feature called “super follow,” which will be rolled out later this year. With the launch of this function, celebrities and other famous users will be able to charge their followers for access to their “extra,” and exclusive content meant for paid subscribers only, meaning it won’t be shown to their regular followers. This feature is an attempt of the social media platform to explore new ways of making money other than advertising.
The launch of all these new exciting products will help Twitter expand its revenue sources for both itself and the creative users who’ll be able to make money out of their popularity online. Twitter also revealed that for the year 2023, its revenue goal is more than $7.5 billion, which is more than double of its total revenue in 2020, viz. $3.7 billion. According to the company’s statement, they will be giving out more details in the next few months.
Hariom Balhara is an inventive person who has been doing intensive research in particular topics and writing blogs and articles for E Global Soft Solutions. E Global Soft Solutions is a Digital Marketing, SEO, SMO, PPC and Web Development company that comes with massive experiences. We specialize in digital marketing, Web Designing and development, graphic design, and a lot more.
SOURCE : Twitter Super Follow Feature