Technology

Twitter considers tipping and subscritption services to increase its revenue

The user tipping combined with the subscription would help the company diversify its revenue as an alternative to social media advertising dependency

Twitter brings Tips feature to content creators — Photo: Pixabay

LABS

11.Feb.2021 12:13 BRT
UPDATED 12:15 BRT

Twitter is exploring allowing its users to receive digital payments, or tips, from their followers. The possibility was mentioned by Jack Dorsey, chief executive of Twitter on Wednesday, when he said the feature would help Twitter to monetize more and to increase engagement from its base, today of 192 million daily users.

“I think the first thing we want to focus on is that economic incentive to people who are contributing to Twitter,” Dorsey said at the virtual Goldman Sachs Technology and Internet Conference, reported Reuters.

Twitter had already announced this week, during an earnings call, that is building a subscription product as an alternative as an alternative to social media advertising dependency. The user tipping combined with the subscription would help the company diversify its revenue.

Another step towards the diversification of its revenue sources was taken in January, when Twitter announced the purchase of the newsletter startup Revue in order to attract more long-form content creators.