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Twitter announced Thursday that it plans to introduce a new paid option to users, allowing them to use a “Super Follow” feature in order to have the opportunity to receive content that is only available to them.
During a presentation to investors, the company explained that the new feature “will allow users to charge for additional and exclusive material not shown to their regular subscribers,” according to The Guardian report. The content included in this concept can be material such as videos, offers, discounts and newsletters. People who take advantage of this item should pay a monthly subscription.
The Super Follow idea could also make users feel more connected to specific brands. According to CNBC, Twitter also added that it was examining the concept of letting its users “tip their favorite accounts.” “Exploring audience funding opportunities like Super Follows will allow creators and publishers to be directly supported by their audiences and inspire them to continue creating content their audiences love,” the company said in a statement.
Twitter’s chief design and research officer Dantley Davis said they “think a public-funded model where followers can directly fund the content they value most is an incentive model. sustainability that aligns the interests of creators and consumers.
In a question-and-answer session later today, Kayvon Beykpour, product manager for Twitter, reportedly said the company plans to bring Super Follows to the market at some point in 2021, and said the users will be able to customize the price.
As reported by CNBC, Twitter also reaffirmed that “it is aiming for a long-term goal of mid-teens GAAP operating margin or 40% to 45% adjusted EBITDA margin.”
At the start of the presentation, Managing Director Jack Dorsey said: “Why not start with why people don’t believe in us… It boils down to three criticisms: we are slow, we are not innovative and we do not believe in us. not trust.
According to The Guardian, Twitter users and investors in the social media giant have asked Twitter to launch a model based on user subscription. Other internet content creators use systems like Patron, Substack, and OnlyFans to make a profit.
Twitter hasn’t discussed how much money celebrities and other creators would make from the paid followers they recruit. This model would allow Twitter to make money using a larger source of profit, especially when internet advertising is heavily handled by Facebook and Google.
Twitter is also setting goals to increase its capacity and expand its market. In an SEC filing, Twitter said its goal was to have at least 315 million monetizable daily active users (mDAU) by the fourth quarter of 2023, which, according to the filing, “represents a rate compound annual growth of approximately 20% from baseline. of 152 million mDAU declared in Q4 2019. “
It also plans “to at least double total annual revenue from $ 3.7 billion in 2020 to $ 7.5 billion or more in 2023.” Additionally, the company aims to have “twice the development speed by the end of 2023, which means doubling the number of features delivered per employee that directly generate mDAU or revenue.”
According to CNBC, the company’s stock rose 3.7% on Thursday.
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