Twitter announced on Thursday that it intends to introduce a new payment option to users, enabling them to use a ‘Super Follow’ feature to have the opportunity to receive content that is only available to them is.
During a presentation to investors, the company explained that the new feature ‘will make users pay for extra, exclusive material not shown to their regular followers’, according to The Guardian. It is understood that the content of this concept could be material such as videos, offers, discounts and newsletters. People who use this element will have to pay a subscription fee per month.
With the Super Follow idea, users can also feel more connected to specific brands. According to CNBC, Twitter also added that it is investigating the concept of ‘tipping users’ favorite accounts’. “Exploring audience funding opportunities such as Super Follows will directly support creators and publishers through their audience and encourage them to continue creating content that their audience cares about,” the company said in a statement.
Twitter’s head of design and research, Dantley Davis, said they ‘think a model funded by the public, where subscribers can directly fund the content they value most, is a sustainable incentive model that interests of creators and consumers alike. ‘
In a question-and-answer session later that day, Twitter product leader Kayvon Beykpour reportedly said the company plans to launch Super Follows to the market at some point in 2021, saying users can adjust the price point.
As reported by CNBC, Twitter also reiterates that “it is striving for a long-term target of the mid-teens operating margin or adjusted EBITDA margin of 40% to 45%.”
At the start of the presentation, CEO Jack Dorsey said: “Why do not we start with the reason why people do not believe in us? This comes down to three criticisms: we are slow, we are not innovative, and we are not trusted. ”
According to The Guardian, Twitter users and social media giant investors have asked Twitter to launch a model based on user subscriptions. Other internet content creators use systems like Patron, Substack and OnlyFans to make a profit.
Twitter did not discuss how much money celebrities and other creators would earn from the paying subscribers they call in. According to this model, Twitter can make money with a wider source of profit, especially if internet and advertising are strongly managed by Facebook and Google.
Twitter also sets goals to increase its capacity and expand its market. In an SEC filing, Twitter reported that its goal is to earn at least 315 million daily active users (mDAUs) with earnings (mDAUs) by the fourth quarter of 2023, which according to the filing represents a ~ 20% compound annual growth rate of the base represented. of 152 million mDAU reported in Q4 2019. ”
It is also planned to double total total revenue from $ 3.7 billion in 2020 to $ 7.5 billion or more in 2023. “In addition, by the end of 2023, the company wants to have twice as much” development speed, which means that the number of functions sent per employee will double or lead directly to MDU or revenue. “
According to CNBC, the company’s share rose 3.7% on Thursday.
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