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.
We're also in early stages of exploring add'l potential revenue products that complement our advertising business, which may include subscriptions & others. It is very early; we do not expect any revenue against these in 2020. $TWTR
— Twitter Investor Relations (@TwitterIR) July 23, 2020
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.
Moreover, recently, a news came that Twitter is planning to explore new options for the app icons and splash screen, at least on iOS.
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.
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