time to read 1 minutes

Twitter bets on the subscription modelINTL

Twitter bets on the subscription model

Has Jack Dorsey been inspired by OnlyFans? At an investor event held last week, Twitter (TWTR) announced an exciting new feature called “Super Follow” that will allow users to charge followers for access to exclusive content.

Investors have been asking Twitter to launch a subscription-based model for a while now in an effort to open up new revenue streams. The feature would be Twitter’s first paid product and would help the company with its goal to double revenues by 2023.

Another new feature Twitter is testing out these days is “Twitter Spaces”, which allows users to participate in audio chat rooms (sounds similar to Clubhouse, doesn’t it?).

why it matters
The launch of a subscription-based model could make Twitter more competitive with Google (GOOG) and Facebook (FB) who currently dominate the world of online advertising. The new feature would be a win-win for Twitter and its users who have content worth paying for.