Why did Twitter Acquire the news reader service Scroll

Twitter is an American based microblogging platform and a social media networking service that has around 192 million daily active users as of 2021. According to a data received from 2019, an average Twitter user spent around 3.39 minutes on the platform. Recently Twitter has acquired the reading service called Scroll. Let’s look at why the company had acquired Scroll.

Twitter Scroll Acquisition
Twitter’s plan
Twitter’s Subscription service
Future of Scroll
FAQ

Twitter Scroll Acquisition

On 5 May 2021,Twitter said that it had acquired Scroll which is a service that is based on the subscription that provides news articles with removed advertisements.

They added saying that the company had built a new way that led the subscribers to read the articles without the ads, pop-ups or any other disturbances that a user face on the digital platforms. The company will clean up the reading experience of their users by providing their subscribers with what they require.

Twitter also told that the publishers who work with Scroll have revealed that they get a chance to make more revenue than they will be able to make from any page through the running of traditional advertisements.

Twitter’s plan

Twitter said that they consider it to be an exciting opportunity for them to introduce this proven business model to the publishers on Twitter’s platform. This is expected to make reading the news much more better for everyone involved with it.

The company said while looking into the future, Scroll will be added to their subscription model in a much more meaningful manner as the company has plans to build and introduce a subscription service on their digital platform in the future.

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Twitter’s Subscription service

In the year 2020, the microblogging platform had confirmed that it was working towards exploring an idea to create a paid service on the basis of a subscription model which would include a lot of new features and services. The company expects to develop it in a way where the users will be willing for subscribing to it as per reports.

The company is also working towards developing a feature for its Publishers and content creators called Super Follows. Earlier this year, Twitter had mentioned about this feature during its Analyst Day Event.

The feature is planned to work as an account subscription where the subscribers will get access to various services offered by the content creators and publishers on the social media major’s platform.

These include paid newsletters, audio conversations, special access to direct messages, exclusive tweets, etc. At the beginning of 2021, Twitter had acquired Revue which is a platform that offers users such as writers and content publishers to publish the editorial newsletters.

Twitter had conveyed in a blog post which said that imagine as a Twitter subscriber getting access to the premium features where one would get an easy access to read articles from your favourite news outlet or a newsletter from a writer through Revue.

It added on that the portion of the subscription amount would go to the publishers and the content creators.

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Future of Scroll

Twitter said that Scroll will temporarily stop new sign-ups because of the latest acquisition. Twitter added that they will work towards including the company’s services into their subscription plans and will look forward to growing the number of publishers of Scroll’s platform.

The social media major said that they will continue to support the community that already exists on Scroll such as the publishers, content creators and the customers and it added that the new Publishers who are interested to join the Scroll’s community can sign up on their website for the latest updates.

FAQ

What is Twitter's net worth?

Twitters net worth is estimated around $4.4B.

Which country uses twitter the most?

United States, Japan and India are the top three countries that uses twitter the most.

Who is the CEO of Twitter?

Jack Dorsey is the CEO of Twitter.

Conclusion

Twitter has around 11.7 million downloads on the app store and around 67 % of the B2B businesses using it as a digital marketing tool. Around 40% of the Twitter users have claimed that they have purchased something after seeing a tweet on the platform. We will have to see how the new subscription model of Twitter would bring a change in the market ecosystem.