According to reports, Twitter today released the company’s first subscription service Twitter Blue, designed to help the company achieve revenue diversification. This is Twitter’s first attempt at a subscription business model, and it is expected to help Twitter achieve diversification of revenue sources.
The financial report for the first quarter of this year shows that advertising business accounts for more than 86% of Twitter’s total revenue. Affected by this, the Twitter stock price rose 2.3% in early trading today.
This service will be launched to users in Canada and Australia, in local currency, at 3.49 Canadian dollars ($2.90) and 4.49 Australian dollars ($3.48) per month. Twitter did not disclose when Twitter Blue will be open to US users.
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Earlier this year, Twitter set a goal to accelerate the launch of new products. By the end of 2023, Twitter hopes that the number of monetizable daily active users will reach 315 million; by the end of 2023, it will double its annual revenue to US$7.5 billion.
Twitter Blue will give users the Undo Tweet feature, allowing them to set a customizable timer of up to 30 seconds to withdraw the tweet when they need to modify the tweet. Other features include: bookmarking folders so that users can organize their saved tweets; reader mode to make it easier to read a series of content; customizing the Twitter application icon on the phone; accessing the colors of the Twitter application Theme; unique customer support.
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