As one of its other top reveal features hitting the market, Twitter has announced it will, later this year, launch a “super follow” feature, which lets users charge followers to access exclusive content. Quite a bold move, as the platform aims to branch out of advertising, to find more alternatives to make money for both itself and its most prolific followers.
This feature will allow access to exclusive material or content, which includes subscriber only newsletters, videos, deals and discounts. Users would pay a monthly subscription fee to access the extra content. This has come after bulk of both investors and users have asked the platform to adapt to a subscription based model, following platforms like OnlyFans, which basically allows users to monetize their popularity.
The subscription model will allow the platform to diversify its revenue sources in a Google-Facebook dominated online advertising world. However, it has not yet disclosed what would be the percentage share for the “twelebs” and “Influencers” and others who’d be signing up to pay subscribers.
The feature isn’t yet available but they’ve promised to share more information in the coming months. Another feature to follow; “Revue” will allow users to publish paid or free newsletters for their audience. Not to forget Twitter Spaces, an audio-based feature allowing users to host live conversation sessions.
All of this, reminds me of Scott Galloway, in his book; The Four: The Hidden DNA of Amazon, Apple, Facebook and Google:
“…. Twitter, for example, doesn’t know much about its customers. Millions of them have fake names, and as many as 48 million (15 percent) are bots. The result is that while the company can calculate changing moods and appetites in different areas of the planet, it struggles to target individuals. It aces humanity but gets a C in humans... Good for the planet, bad for Twitter shareholders”
Could this be another attempt to ride on the wave of democratizing content monetization for creators while also diversifying Twitter’s income stream? There’s an incredible need to put more power in the hands of users, they consume and produce the content, not to mention bulk of the product development(s) and Marketing strategies are based on this bottom —up behavioral marketing approach for brands to tailor everything for them, so why shouldn’t they benefit, why aren’t we monetizing content more?
In the 2021 Top 10 Most Downloaded platforms, Twitter had not made the cut, rather more dominated by platforms like TikTok, Telegram and WeChat. The one thing all these platforms have in common is; investment in its consumers/users. This is exactly what Twitter is trying to do, understand and invest more in its users.
So, What’s Next? As the Twitter Super Follow [first on Apple users] feature is trialed, it will be very critical to observe how content creators (and brands) maximize the utility of this feature, how receptive are content consumers of this feature and most importantly, how do we add more context for developing economies, where Twitter dominates the most.
So, as a content creator how far will you go to diversify your content and add value for users? As a consumer, how much are you willing to take out for your favorite handle’s content? As Twitter, will this democratization help them understand users more, while also increasing revenue for their platform? But most importantly, how much of the subscription will actually go the content creators? The next coming quarter of the year will be quite a teachable journey for the platform’s developers.