We recently covered that Twitter was looking for engineers to work on a “new subscription platform.” Although the company edited the job listing to remove any mention of subscriptions, Twitter confirmed today that it’s looking at new ways to increase revenue with a paid service.
In a tweet shared with investors, Twitter confirmed that the company is exploring how to complement its revenue, which is currently generated from advertising.
A subscription model is being considered, but there are no further details on how this would work and when it will be available, as the company itself stresses that they’re still under initial discussions about this.
Twitter CEO Jack Dorsey said this Thursday that some users will probably see some tests with different approaches later this year. “We want to make sure any new line of revenue is complementary to our advertising business,” he mentioned.
The most likely scenario for a new Twitter subscription model is an option to pay for removing ads from the social network, which is something other platforms like YouTube have already been doing.
As noted by Engadget, Twitter had a significant increase of registered users in the last quarter, with 186 million daily active users, but the company also had an operating loss of $124 million due to lower investments in advertising caused by the COVID-19 pandemic.
We’re also in early stages of exploring add’l potential revenue products that complement our advertising business, which may include subscriptions & others. It is very early; we do not expect any revenue against these in 2020. $TWTR
— Twitter Investor Relations (@TwitterIR) July 23, 2020
In the meantime, Twitter is also working on a new API that opens more features to third-party apps. The company also continues to investigate the hijacking of multiple Twitter accounts, which has affected users like Apple, Uber, Elon Musk, Jeff Bezos, Bill Gates, and more.
Would you pay to use Twitter with more features or without advertisements? Let us know in the comments section below.
FTC: We use income earning auto affiliate links. More.