Twitter is hoping to double its revenue stream by 2023 as it introduces its new paid subscription feature/service, Super Follow.
It remains to be seen if the social media platform can able to achieve its ambitious goal of doubling its income. Media insiders says is the first time for social media platform powerhouse set long term for revenue.
According to Hypebeast, “the company’s goal of doubling its annual revenue would mean that Twitter intends to go from $3.7 billion USD to at least $7.5 billion USD in 2023”.
As a part of the plan, Twitter announced the new Super Follow feature that would give users the option of providing exclusive paid-for content to their followers.
What ‘Super Follow’ all about?
Super Follow is comparable to Patreon and is expected to be an impactful update for Twitter users. A Super Follow subscription is set to cost $4.99 USD per month and users have the ability to “cancel anytime”. Once subscribed, users will have access to subscriber-exclusive content and newsletters of varying forms. The new feature is expected to allow individuals such as independent journalists and sex workers to leverage the app as an additional source of income, adds Hypebeast.
What’s Next for Twitter?
Along with the new feature, Twitter CEO Jack Dorsey also recently announced that it would be adding a Safety Mode tool to block and automatically detect abusive accounts for users. Users can toggle between automatically blocking any account that appears against Twitter Rules and also muting accounts that consistently utilize insults, name-calling, hateful remarks, or offensive language, stated Hypebeast.
There is no official announcement regarding when the Safety Mode and Super Follow updates will be released on Twitter.