Show an ad over header. AMP

Twitter debuts "Super Follows," other subscription products to help double revenue by 2023

Twitter said Thursday that it plans to increase the amount of money it makes off of its users by allowing them to pay creators directly for content they like.

Why it matters: The company is trying to broaden its revenue stream away from being dependent mostly on ads, and particularly on ads from big brands.


Details: Twitter announced it will create a new feature that allows users to charge their followers for more content via a payment tool called "Super Follows."

  • The product will allow Twitter users to charge for premium content, like a newsletter subscription, badges showing support, or bonus tweets.
  • Twitter also said it's experimenting with putting other features behind a paywall, including its Tweetdeck portal that allows hyper-engaged Twitter users to monitor lots of tweets in real-time.

Be smart: The ability to allow users to pay for specialized access to additional content is a growing trend among social platforms, and something that has long been used in the gaming community.

The big picture: The news was unveiled alongside new goals from Twitter executives about how it plans to grow the company more broadly.

  • The company said it plans to increase its monetizable daily active user base (mDAUs) from 152 million at the end of last quarter to 315 million by Q4 2023.
  • It also plans to more than double its global annual revenue to over $7.5 billion by Q4 2023.

Yes, but: To achieve this goal, subscriptions won't be enough. The company needs to improve its ads business to make it more accessible to small and medium-sized advertisers around the globe, not just Fortune 500 companies.

  • Twitter's global vice president of revenue Matt Derella said that the company makes 85% of its ad revenue today from brand ads, or ads that help big companies build their reputations. Only 15% of Twitter's ad revenue comes from performance ads, or ads that help small businesses sell things.

What's next: To help scale its ads business, Twitter said it has completely overhauled its ad-serving technology and refocused on how to broaden its user base to be able to serve more ads.

  • The tech giant presented investors with its newfound focus on topics and micro-communities to help drive more engagement.
  • That includes a new feature called "Communities," which will help the company focus on building groups around certain topics.
  • Focusing on topics will help the tech giant increase engagement on the platform, the company's head of consumer product Kayvon Beykpour said.
  • Early experiments show that topical tweet recommendations drive 8.2% engagement, as opposed to 3.2% from account-based tweet recommendations.
  • The company plans to expand its topic data base from about 6,000 topics today to "hundreds of thousands" of topics globally in the next few years.

The bottom line: In terms of innovation, "We agree we've been slow," CEO Jack Dorsey conceded. "We've been working ourselves out of a significant deficit for years."

  • "We expect the next few years will show our most ambitious strategy to evolve."

Senate Democrats settling on 25% corporate tax rate

The universe of Democratic senators concerned about raising the corporate tax rate to 28% is broader than Sen. Joe Manchin, and the rate will likely land at 25%, parties close to the discussion tell Axios.

Why it matters: While increasing the rate from 21% to 25% would raise about $600 billion over 15 years, it would leave President Biden well short of paying for his proposed $2.25 trillion, eight-year infrastructure package.

Keep reading... Show less

Republican leaders raked in sizable donations from grassroots supporters

Republican leaders turned to grassroots supporters and raked in sizable donations after corporations cut them off post-Jan. 6.

Why it matters: If those companies hoped to push the GOP toward the center, they may have done just the opposite by turning Republican lawmakers toward their most committed — and ideologically driven — supporters.

Keep reading... Show less

CDC: Half of US adults have received one COVID-19 vaccine dose

Data: CDC; Chart: Axios Visuals

Half of US adults have received at least one dose of the COVID-19 vaccine and about a third are fully vaccinated, according to new data from the Centers for Disease Control and Prevention.

Why it matters: COVID-19 cases and hospitalizations are still on the rise, CDC director Rochelle Walensky said during Friday's White House COVID-19 briefing. With cases in many states being driven by variants, public health officials have emphasized the need to ramp up vaccinations.

Keep reading... Show less

Israeli intel agencies believe Vienna talks will lead to U.S. return to Iran nuclear deal

Israeli military intelligence and senior officials in the Mossad briefed a meeting of the nation's security cabinet that talks in Vienna between Iran and other world powers will lead to the U.S. returning to the 2015 nuclear deal, two officials who attended the meeting told me.

Why it matters: The Israeli government is very concerned about a U.S. return to the nuclear deal and is trying to convince the Biden administration not to take the pressure off the Iranian regime.

Keep reading... Show less

"It hurts": Latino community of 13-year-old killed by police in Chicago reels after shooting

Residents of Little Village, a well-known and predominantly Latino neighborhood in Chicago, are grieving the death of Adam Toledo, a 13-year-old Mexican American boy from the neighborhood who was shot and killed by a police officer on March 29, NBC News reports.

Why it matters: Adam Toledo's killing shines a spotlight on police shootings of Latinos, who are killed by law enforcement at the second-highest rate after Black Americans, according to data from the Washington Post.

Keep reading... Show less

Biden adviser warns "there will be consequences" for Russia if Navalny dies

The Biden administration warned the Russian government "that there will be consequences" if jailed Russian opposition leader Alexei Navalny dies, National Security Adviser Jake Sullivan told CNN on Sunday.

The big picture: Sullivan also defended President Biden for not mentionining Navalny in a Thursday speech about Russia or in a Tuesday call with Russian President Vladimir Putin,saying the White House aims to deal with the issue "privately and through diplomatic channels."

Keep reading... Show less

Prosecutor on leave for failing to "fully present the facts" after shooting of 13-year-old boy

Cook County prosecutor James Murphy was placed on administrative leave Friday after he implied in court that 13-year-old Adam Toledo, who was shot and killed by a police officer in March, was armed when he was shot, the Chicago Tribune and Chicago Sun-Times report.

Why it matters: Videos of the shooting show that Toledo dropped what appears to be a weapon and put his hands in the air a moment before before he was fatally shot. A lawyer for the Toledo family said Thursday that if the teen "had a gun, he tossed it."

Keep reading... Show less

Biden's blinking red lights: Taiwan, Ukraine and Iran

Russia is menacing Ukraine’s borders, China is sending increasingly ominous signals over Taiwan and Iran is accelerating its uranium enrichment to unprecedented levels.

The big picture: Ukraine, Taiwan and Iran’s nuclear program always loomed large on the menu of potential crises President Biden could face. But over the last several days, the lights have been blinking red on all three fronts all at once.

Keep reading... Show less

Insights

mail-copy

Get Goodhumans in your inbox

Most Read

More Stories