(CNN Business)Twitter is exploring a way to allow users to become paid subscribers to Twitter accounts they really like.
The company teased the feature, which it’s calling Super Follows, during its Analyst Day presentation on Thursday. If implemented, users would have the ability to pay creators for additional content within their Twitter feeds, including exclusive announcements and newsletters. “We’re rethinking incentives and exploring solutions to provide monetary incentive models for creators and publishers to be directly supported by their audience,” Twitter said in its presentation. A company spokesperson told CNN Business that Super Follows are not available yet but Twitter will “have more to share in the coming months.”
Super Follows would allow users to pay creators on Twitter for access to additional content.The social media company has been exploring subscription options in recent months, in an attempt to make money from its users and diversify beyond its core advertising business. Last month, it announced the acquisition of newsletter company Revue. The concept of users paying for exclusive content from creators has become increasingly popular with the rise of platforms such as OnlyFans and Substack.Read More
Twitter on Thursday also announced ambitious growth targets for the next few years, saying it aims to more than double its annual revenue to $7.5 billion by the end of 2023, by which time it also aims to hit or exceed 315 million monetizable daily active users — up from its current 192 million. Twitter stock rose more than 10% on Thursday following the announcements, before giving up some of those gains later in the day.
Source: edition.cnn.com
