By John Ikani
Twitter on Thursday announced it has launched the initial iteration of Twitter Blue, the company’s first foray into a subscription service model which will provide access to “exclusive features and perks.”
The service is rolling out to users in Canada and Australia respectively for $3.49 and $4.49 in local currencies per month. The company did not say when Twitter Blue will become available for tweeps in the United States.
A subscription offering has been on Twitter’s roadmap for years as Investor pressure and advertising competition from the likes of Snapchat and Facebook pushed the company to look for new revenue streams.
About “exclusive features and perks” of Twitter Blue
• The “undo tweet” function is one such feature, allowing users to preview and revise a post before it goes live.
• Users can set a timer of up to 30 seconds, enabling them to click ‘Undo’ before the Tweet is posted.
• Reader Mode, another new perk, “provides a more beautiful reading experience” by converting long threads into easy-to-read text.
• Bookmark Folders is a new feature that allows users to more efficiently organize tweets they choose to save.
• Twitter says subscribers to Twitter Blue will also be able to select customizable app icons for their device’s home screen and will have access to subscription customer support.
• The service will cost $3.49 CAD per month in Canada and $4.49 AUD per month in Australia.
On Feb. 25, Twitter said it plans to at least double total annual revenue and daily users over the next four years.
According to a regulatory filing, the company expects annual revenue to increase from $3.7 billion in 2020 to $7.5 billion or more in 2023.
CEO Jack Dorsey said that, in the past, “we believe we haven’t been innovative,” but that the company has set a goal to increase “development velocity.”
Other innovative features being tested/launched by Twitter to increase “development velocity.”
• A virtual tip jar
• “Super Follows” for individual users to charge subscriptions
• Voice-based DMs and tweets
• Features that limit the spread of misinformation and prevent harassment
• Stories (aka “Fleets”)
• Spaces, a Clubhouse competitor
