Twitter is exploring ways to monetize their social platform, as the company wants to expand their revenue stream with new features or subscription options for the site.
According to a Bloomberg report, Twitter Inc. has been wanting to grow the ways it makes money to not be so reliant on advertising. Ideas have been floating for years in the company about ways to integrate premium features and the like.
Though these products aren’t intended to hit the social media site in 2021, more discussions at Twitter are reportedly taking place about the need to expand different options to generate money.
Some of the features that have been talked about range from fees to the Tweetdeck business suite, some kind of subscription, and even ‘tips’ to support people creators, according to ideas on user surveys.
The ‘tips’ would be a way for people to follow exclusive content, with Twitter taking a piece from the transaction.
There are a ton of features that Twitter users have been advocating to get for years. Everything from an edit button, to more privacy functions, and more. Last year, tech reporter Andrew Roth showed some survey options that also included an “undo send, special badges for profiles and advanced analytics” to gauge people’s interest in possible features.
The idea of a service that lets people block ads for a monthly fee also appeared on that survey. This has been something that’s also been talked about before, but has yet to be incorporated.
One of the easiest integrations could be the ad-free viewing for Twitter users. This would be something that would be of interest to the site’s large mobile user base.
After CEO Jack Dorsey confirmed Twitter is exploring a subscription model, the company is conducting user surveys on what type of features they'd like to see in such a service.
Undo send, special badges for profiles and advanced analytics are among the features being considered. pic.twitter.com/hL6T8sdI0s
— Andrew Roth+ (@RothsReviews) July 31, 2020
Revenue Product Lead, Bruce Falck, said that they would also consider “unique features and enhanced opportunities for content creation, discovery, and engagement.”
It’s unclear what those possible features might be, though it could be of interest for people who have built large audiences on the platforms.
As Twitter looks to diversify how they bring in revenue, it will be interesting to see how they’ll try to attract new business out of the people currently using their site.