The service will cost $3 a month, according to a tweet from tipster Jane Manchun Wong.
The social media giant said in early May that it would be putting out a new subscription offering.
According to Wong, the service could also come with a tiered pricing model. Users who pay more might be able to access more features.
One of those features, she said, would be ‘Collections,’ which would let people save their favorite tweets and come back to them later.
There’s currently no explicit date for when the service will roll out, but the company has been testing out an array of new features. Among those have been feature to undo tweets, a charge to use Tweetdeck, the dashboard app, and Super Follows, which will let users get exclusive content and follow creators.
Then there’s the ‘Scroll’ technology, which might be able to offer an ad-free Twitter experience for users.
PYMNTS previously reported on Twitter’s plans, saying the social media giant would be looking to double its yearly revenue and boost its growth in users in the next few years.
The report said Twitter could pivot away from ads and more toward the subscription model for compensation for content.
According to reports, the company thinks it could appeal to influencers with large follower counts.
Currently, ads make up around 86 percent of its 2020 earnings. And in January Twitter said it had agreed to buy the Revue Holding BV newsletter, which would put it in competition with other sites like Mailchimp and Substack.
The app has also looked to roll out a service to allow tipping for some users.
Twitter’s goal is to hit $7.5 billion in revenue by 2023. By that time the company thinks it will have around 315 million users.
May 17, 2021 at 02:58AM