The new app feature is called “super follows,” and it would let app users show their support for certain companies and their content by paying for their newsletters, badges, and other goodies from their favorite users.
Call it an extension of the growing creator-focused business culture that is becoming more and more important to Twitter every day.
The Rise of the Pay-for-Content Company
It arguably started with the rise of pay-for-content for social media platforms like Patreon, where users could pay extra on a monthly basis to support their favorite artists and receive extras from them in return. It continued with subscription-based email social media platforms like Substack and Medium. Now, YouTube offers a few similar features, but in this case, Twitter’s the company that seems to be playing catch up.
But the company says that the feature is the next way to let its users support each other.
“Exploring audience funding opportunities like Super Follows will allow creators and publishers to be directly supported by their audience and will incentivize them to continue creating content that their audience loves,” the business said in a statement.
However, the CEO of the social media app company admitted that the business feature is a response to a few common criticisms that the business receives often.
“Why don’t we start with why folks don’t believe in us,” said Jack Dorsey. “It comes down to three critiques: we’re slow, we’re not innovative, and we’re not trusted.”
Because of this, the efforts of the social media business are directed at innovating and growing, both in size and in revenue.
The Company Revenue
Twitter has big plans for growth and innovation, too. The social media app company wants to double its global annual revenue, aiming to reach over $7.5 billion by Q4 2023.
And in a social media market currently worth $61.4 billion and growing at a rate of 16.5% annually, that goal is not unrealistic.
To the critics, Twitter’s business executives say that the best days of the company are still far ahead of it.
“The notion of Twitter even changing feels like a novel concept,” said Kayvon Beykpour, Twitter’s head of consumer product, in an interview with The New York Times. “It’s still so far from achieving its potential, despite how much influence and value it does have in the world.”
About the Author
Elijah Labby is a graduate of the National Journalism Center. He has previously written for Broadband Breakfast, a technology and internet policy website.