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Twitter tests its first paid service

Twitter announced this evening at a meeting of investors that it intends to double its revenues and the number of active daily users by the end of 2023, and this has caused the value of the company’s shares to rise to a large number. In conjunction with the disclosure of the start of testing its first paid services that it talked about previously, which came under the name “Super Follows”, aimed at content creators and their followers.

Twitter indicated its plan to double its revenues during 2023 to reach $ 7.5 billion, compared to $ 3.7 billion achieved during 2020.

It also talked about its efforts to reach 315 million daily users by the last quarter of 2023, compared to 152 million in 2019.

On the same side, the company clarified that its first paid service will be “Super Follows”, which aims to help content creators generate income through the platform. This comes by enabling content creators to post tweets, stories, or special audio and video content available to users who pay for subscriptions to obtain exclusive content.

Twitter, in turn, will deduct a portion of the value of paid subscriptions, and will give content creators the remainder in exchange for their content.

Although the company has not revealed many details about its service, it will represent a major shift in its anticipated policy to find new income channels.

This announcement to Twitter of its long-term plans is the first of its kind, as the announcement included its plans for the next two years.

With this announcement, the value of Twitter shares jumped to about 80.75 per share, up 9%, which constitutes a record increase in their value.

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