Twitter is a social media company founded 15 years ago. It is famous for its news-breaking tweets by politicians or big entrepreneurs. The platform is free for the individuals to use. Twitter generates its revenue from two categories - Advertising services and data licensing services.
Advertising services contribute around 86% of twitter’s revenue. Twitter generates revenue selling promoted products, promoted tweets or trend to the users from advertisers.
Around 14% of twitter’s revenue is through data licensing and other sources. They provide subscriptions to public data such as the time spent on the platforms and essential information. The revenue from other sources includes the service fee charged by twitter which it collects from mobile ad exchange from its users.
Twitter announced new features and products which will be launched by the company soon which includes:
Twitter had announced that it will come up with a new feature called “Super Follow”. This feature will mainly help individuals who have a lot of followers. It is a feature that helps them monetize their Twitter accounts. Super Follow feature will help content creators charge their followers for exclusive content. It can be a subscriber-only newsletter, videos, discounts, and great deals.
This will let users charge for the extra content which is not shown to the regular followers providing an opportunity for the Twitter users to earn an extra revenue through the platform.
Advertising is dominated by companies like Google and Facebook. This new feature will let Twitter have a wider range of revenue sources and would not depend just on advertising for its revenue.
Twitter hasn’t mentioned what percentage of the revenue it would share with the users who monetize their content. The company said in a statement that “Exploring audience funding opportunities like Super Follows will allow creators and publishers to be directly supported by their audience and will incentivize them to continue creating content that their audience loves”.
Super Follow feature is not available yet and the company has said that it will have a lot more to say in the coming months.
Revue is a Dutch Startup which was acquired by Twitter. The startup allows users to publish email newsletters and monetize them. This platform provides features to write, edit and publish newsletters without leaving the platform. It provides revenue generation to users through paid subscribers.
Newsletters can be soon seen as an addition on the twitter’s sidebar navigation. It can be seen along with moments, twitter’s ads, bookmarks and other features. The financial details of the acquisition are unknown. This will be a new product which will be part of twitter’s strategy to widen its revenue generation.
Twitter also announced a new feature which it is planning to add to the platform which is communities. It will be a group where people can join or add more people according to their preference.
People can create and join groups according to their interest like plants, food or animals etc. Twitter suggests that this feature will allow the user to see more tweets based on those topics.
It will be similar to Facebook groups and groups have been a great success for Facebook. Twitter feels that this could be of great help for them since their platform can make it a little difficult for the new users to start on the platform.
This will be a feature similar to clubhouse, where the users will be allowed to participate in audio conversations. The Podcast culture has been growing in the West and audio contents are growing in the recent years.
The success of clubhouse and different podcast platforms has let twitter to introduce this new feature. The users can invite their followers and get into audio conversations with them which will help them to increase their personal relationships.
This feature is still in private beta testing, which means it is not yet available for the users.
There is no specific date mentioned by Twitter on the release of these features and products. The company just listed them as 'what’s next' in a presentation with their analysts and investors.
Twitter also said that creators will be able to customize their communities, where they can set their own rules and social norms beyond twitter’s rules. The company has a goal to more than double its revenue by 2023.
Who has the Highest followers on Twitter in India?
Prime Minister Modi has the Highest number of followers on Twitter in India.
Who is Twitter's biggest competitor?
Twitter's top competitors include Pinterest, TikTok, YouTube, LinkedIn, and Instagram.
Who is the Founder of Twitter?
Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams are the Founders of Twitter.