Report: Twitter Currently Has 290,000 Subscribers Accounting For $28M in Annual Revenue
- Laurent Giret
- Feb 07, 2023
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Elon Musk’s plan to make subscriptions represent up to 50% of Twitter’s revenue doesn’t seem to be going so well. According to an internal document seen by The Information, the company had 290,000 subscribers in mid-January, with 62% of them (180,000 users) being in the US.
This number includes the new Twitter Blue subscription that was relaunched under the leadership of Elon Musk, but that’s not all: Twitter also lets users subscribe to select profiles to access exclusive tweets and more bonus content. This Subscriptions feature was named “Super Follows” until November of last year.
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In the US, a Twitter Blue subscription costs $8/month if you subscribe on the web or $11/month if you subscribe via Apple’s App Store or Google’s Play Store. As for Twitter users who have a Subscription offering, they can currently choose between the following monthly price points: $2.99, $4.99, or $9.99.
“All together, the global number of subscribers would equate to around $28 million in annual revenue — less than 1% of the $3 billion Musk has said Twitter aims to make in revenue this year,” The Information reported.
Elon Musk recently said that he was planning to launch a higher-priced Twitter subscription with no ads. Twitter Blue perks should currently see 50% fewer ads compared to non-subscribers, and Musk also announced last week that Twitter will now share ad revenue with Twitter Blue subscribers for ads that appear in their reply threads. However, the Twitter CEO has yet to share more details about how this ad revenue-sharing program will work.
Twitter probably has a hard time convincing power users to subscribe to Twitter, especially after the company changed the terms of its API to ban third-party apps. However, the company may have other plans to increase its subscription revenue: According to a previous report from The Information, Twitter is considering asking brands to pay $1,000 per month to keep their gold verification badges on the platform.