Twitter Mulls Charging for TweetDeck and New Advanced Features
Teams inside Twitter are exploring ways for the company to offer paid subscriptions, which could include charging money for access to TweetDeck. TweetDeck is a popular alternative to the main Twitter website and mobile app that allows users to efficiently manage multiple accounts and organize Twitter into a series of easier-to-read vertical feeds.
Other than just charging for TweetDeck, the teams are even researching other ideas, including charging for other new features like an undo send button or more profile customization options. Another option includes introducing tipping to the Twitter platform, where users could pay accounts for exclusive content.
Twitter is exploring these plans to reduce its dependency on advertising, which currently brings in the majority of its revenue. It is seen that competing ad businesses from Facebook and Snapchat continue to grow faster than Twitter’s, and the company is under pressure to diversify, thanks to the pandemic as well as high-profile activist investors. Introducing a series of premium pay models to Twitter seems to be an extremely bold move given the most of the social media companies offer their services for free to maximize growth.
In a statement, Twitter’s revenue chief, Bruce Falck, confirmed the company’s plans to improve its revenue mix may include subscriptions, but he stressed that its plans are in the very early learning stage. Falck added, “We at Twitter don’t expect any revenue which will be attributable to these opportunities in the year 2021.”
Twitter has been exploring some of these options for years. Back in 2017, the company also considered charging for premium TweetDeck features before later abandoning the plans, and last year a customer survey conducted revealed an interest in charging for an undo send feature. It is known that subscriptions have been mentioned on the company’s last two revenue calls, and just this past December, Twitter’s chief financial officer Ned Segal said the company was even exploring to charge for features like higher-quality video and analytics.
Twitter is due to report its latest earnings, so there are chances users might know more about its plans sooner rather than later.