Twitter has confirmed its plans to test a subscription model as it witnessed a 23 percent decrease in ad revenue this quarter due to the ongoing coronavirus pandemic.
Twitter is doing this to diversify its revenue.
These new revenue products are still in the early stages, as per a tweet on Twitter’s official Investor Relations handle.
The platform doesn’t expect revenue against these sources this year.
Twitter CEO Jack Dorsey told analysts to expect some tests this year, on an investor call.
He said that he has a “really high bar for when we would ask consumers to pay for aspects of Twitter.”
“We want to make sure any new line of revenue is complementary to our advertising business. We do think there is a world where subscription is complementary, where commerce is complementary, where helping people manage paywalls … we think is complementary,” said Twitter CEO Jack Dorsey.Twitter CEO Jack Dorsey.
However, it is not confirmed whether the company would replace the current app icon with one of the new icons or offer all of these icons as a collection.
So, that’s the end of the news as of now. We will update you with the latest info on the topic as soon as we receive more info regarding the news.
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