Twitter has announced its plan to offer a premium service where users and consumers can pay for the special high-profile account content. This is done in order to diversify their revenue as part of their economic model. At its annual shareholders’ conference, the world-famous social media site revealed that it could pursue additional revenue streams beyond targeted advertising. Twitter announced that it would launch its new Super Follows service.
“Exploring the possibilities of community funding such as Super Followers would help developers and publishers gain direct assistance from their fans“, said a Twitter spokesman.
Top Twitter leaders addressed Super Follows during the streamed presentation while chalking down goals and strategies for the near future.
During the presentation, Super Follows was identified as the way for Twitter audiences to help creators financially in exchange for newsletters, unique content and virtual badges. Twitter, which is currently making money from promotions and sponsored tweets, will add extra revenue through purchases from Super Followers.
Creative strategy consultant, Carolina Milanesi was unsure if users will be ready to spend on Twitter for special content. Such a model makes sense for network content such as YouTube, where it takes hours of craft to create engaging videos, but it is debatable whether the same could be true for Twitter tweets.
There is no set time frame when Super Follows will become a feature, but it is expected that in the coming month’s Twitter will make additional announcements about the feature.
Is Super Follows Feature Going to Add Extra Revenue to Twitter?
Twitter aims to soon allow users to access the network of discussions through functionality that seems to be identical to “groups” in Facebook. Twitter makes much of its revenue out of internet ads, such as Google and Facebook.
The organization announced that it expects to raise $7.5 billion in 2023, which is more than double what was raised last year, i.e. $3.7 billion.
Twitter’s sales boost strategy also includes growing in terms of online business.