At its 2021 Virtual Analyst Day, Twitter has announced two new features, Super Follow and Community. Expected to launch by the end of the year, the new features would bring more engagement to the platform by building an online community like Facebook and allowing celebrities, businesses, influencers, and others to get paid like TikTok, YouTube, and other social media apps.
Recently, Bloomberg reported that Twitter was working on subscription bases products to reduce its reliance on advertisements to revenue. The publisher explained that the decision was taken on the pressure from investors and shareholders because of the company’s unsuccessful ability to capture a large share of the digital ad market.
Twitter announced new Super Follow and Community features
As displayed by the company at the event, the Super Follows feature will allow Twitter users to offer additional or exclusive content for a fee like community groups, videos, view stories, badges, newsletters, tweets, and others. In the shared mock tweet, users will be charged $4.99 per month and the option to cancel the subscription at any time.
Maybe Apple’s upcoming ATT privacy feature which will change the digital advertising model to run targetted ads on iPhones is another factor in Twitter’s decision to implement other ways to generate revenue. The new App Tracking Transparency update will make it mandatory for developers to take iPhone users’ consent to track their activity across third-party apps and websites. Last month, the social media network expressed concerns over the “modest” impact of ATT feature on ad revenue.
The new Twitter Communities feature would allow users to create and join groups based on their social, political, personal, and other interests to share their experiences, knowledge, views, and more. The new feature will also have moderators to monitor and manage the groups as per the platform’s rules. Communities feature is similar to Facebook’s Groups feature.
At the event, the company also shared its future goals to double development velocity by 2023, reach at least 315 million mDAU in Q4 2023, double annual revenue from $3.7 billion in 2020 to $7.5 billion in 2023, and others.
— Twitter Investor Relations (@TwitterIR) February 25, 2021