Social network Twitter considered switching to user fees

According to a new report from Bloomberg, Twitter is considering switching to a social networking platform that offers a monthly subscription model. Twitter’s move is said to reduce its dependence on advertising, the main source of revenue for the social network so far. The source also said Twitter has been discussing this pattern for many years now and this change is again mentioned after pressure from investors as well as the impact of the COVID-19 pandemic.

According to what is described, Twitter is supposed to offer users a monthly paid model, allowing them to pay to access exclusive content from certain accounts they follow, from Twitter will extract a portion of the revenue. In addition, Twitter can also work towards providing exclusive features for paid users, such as Tweetdech, message retrieval or personal page customization … For paid users, Twitter also allows them to remove ads when surfing newsfeeds, posting high-quality videos or using in-depth analytics tools.

Twitter chief financial officer Ned Segal told investors last year that he also mentioned the monthly subscription model. He thinks the new paradigm will make Twitter “more sustainable” when compared to relying on advertising revenue. He also said the company is pondering these options.

Bruce Falck, head of product sales at Twitter, said “increasing revenue sustainability is the company’s primary goal,” even when it comes to a paid model.

Currently, Twitter is still one of the most prominent and popular social networks in the world with 300 million users by 2019. Like other social networking platforms, Twitter revenue and profits mainly comes from advertising. The switch to a monthly subscription model will help Twitter get a “sustainable” revenue stream while reducing its reliance on advertising.

Of course to be able to make a new change, it will take a long time and the company will encounter mixed opinions from users, because at the present time, there are rare social media platforms. Which user charges when using.