Twitter’s Grand Plan Is Beginning To Take Shape

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Twitter’s Grand Plan Is Beginning To Take Shape

Twitter’s new Undo feature is part of a $ 2.99 per month subscription called Twitter Blue that’s part of … [+] the company’s efforts to find new sources of income. (Photo by Christoph Dernbach / picture alliance via Getty Images)

dpa / picture alliance via Getty Images

You can now undo a tweet for a price.

Twitter debuted on Thursday what it calls Twitter Blue, the first in a major push by the company to introduce subscription services. The most prominent feature of Twitter Blue is a 30-second window for correcting a post, which is a little closer to the editing feature many users have wanted for years. Other Twitter Blue features include a bookmark organizing tool in the app and the ability to turn long Twitter threads into more readable paragraphs. It’s currently only available in Australia and Canada and costs around $ 2.99 per month.

At first glance, Twitter Blue has only a few small features that are only available in two small markets. But it’s a first building block in a much larger plan for the company.

Twitter currently makes the majority of its $ 3.7 billion in annual revenue from display advertising. But it is keen to diversify its revenue away from the spirited nature of the advertising business and take advantage of the recent change in the company to accelerate the pace of new products.

And with it the introduction of Twitter Blue. Twitter plans to increase its offerings in the future and inevitably roll it out in other countries. “In this initial phase, our hope is to gain a deeper understanding of what makes your Twitter experience more individual, expressive and, in general, more 🔥,” wrote Sara Beykpour and Smita Mittal Gupta from Twitter in a blog post in which the service was introduced becomes.

More of this is in the works on Twitter. The company plans to allow users with a large following on the app to bill for audio chat room access, potentially allowing Twitter to cut that revenue. It’s also working to enable influencers to offer a monthly subscription package called Super Follows, essentially a paywall section of the website with additional content from those influencers. Last month, Twitter introduced a tip feature that allows users to send money to a select group of widely-followed members of the Twitterati.

Twitter needs to add several new features to meet the ambitious goals set at its investor meeting in February, the first of its kind the company has hosted in four years. The company hopes to grow its daily users from around 200 million to 315 million, while revenue more than doubles to $ 7.5 billion in 2023.