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The popular social media platform announced the potential new service Super Follows at its annual investor meeting as it looks for new sources of income beyond targeted advertising.
“Exploring audience funding opportunities such as Super Follows will allow creators and publishers to receive direct support from their audience and incentivize them to continue creating content that their audience likes,” a Twitter spokesperson told AFP.
Top Twitter executives spoke about Super Follows while outlining goals and plans for the near future during the on-air presentation.
“We are examining and rethinking our service incentives, the behaviors that our product features encourage and discourage when people engage in conversations on Twitter,” the spokesperson said.
Super Follows was described during the presentation as a way for Twitter audiences to financially support creators and receive newsletters, exclusive content, and even virtual badges in return.
Twitter, which currently makes money from advertisements and promoted posts, could add additional income through Super Follows transactions.
Carolina Milanesi, an analyst at Creative Strategies, wasn’t convinced that people were inclined to pay for special content on Twitter.
Such a model makes sense for content on platforms like YouTube, where hours of craftsmanship can be put into producing entertaining videos, but whether the same could be said for tweets on Twitter is debatable, he said.
No timeline was given for when Super Follows could become a feature, but the tech giant is expected to make more announcements in the coming months.
Building communities
Twitter is also considering allowing users to join dedicated topic communities through a function seemingly similar to Facebook’s “groups.”
Twitter aims to reach a milestone of 315 million “monetizable” users in 2023, a sharp increase from the 192 million it had at the end of last year, according to a document presented to the regulators of the US financial markets in the Commission of Stock Market and Securities.
The San Francisco-based firm defined monetizable users as people who log in daily and can be shown ads.
Twitter, like Google and Facebook, gets most of its money from digital advertising.
The company said it is targeting $ 7.5 billion in revenue in 2023, more than double the $ 3.7 billion it made last year.
Twitter also plans to double its “speed of development,” that is, the number of new features it releases per employee to get people more engaged with the service.
Apple bite?
Twitter’s revenue product leader Bruce Falck told analysts that the tech company was aware of a possible revenue restriction that could be caused by new privacy labels Apple imposes for apps on its mobile devices. .
App makers are concerned that tags discourage users from allowing the collection of data used to target ads more effectively.
“It’s still too early to say exactly how this will affect the industry, but the whole industry will feel it,” Falck said, adding that Twitter was innovating to soften the blow.
Twitter’s plan to increase revenue also includes getting more involved in online commerce.
“Imagine easily discovering and quickly buying a new skincare product or fashion sneaker from a new following with just a few clicks,” a Twitter executive told analysts.
One area that Twitter is also looking to make money on is Fleets, a recently added feature where posts and conversations disappear after a day.
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