Due to a strong quarter, Twitter has had a pretty decent time as they saw a surge in user numbers, thanks to the pandemic and everybody staying home and social distancing. Between April and June, the company saw saw 186 million daily active users.
But despite a 34 percent year over year increase in users, the company has been operating at a loss of $124 million during the same quarter. The reason for this is due to a slowed ad revenue stream.
Twitter saw this and began looking for a way to make up that difference by including some kind of subscription service.
As the tweet above said, this idea is still in a very early stage, so who knows what will happen if and when Twitter does release some kind of subscription model.
According to CEO Jack Dorsey, they are planning on doing a variety of tests this year to see what and what doesn’t work. He did say that there’s a “really high bar for when we would ask consumers to pay for aspects of Twitter.”
Only time will tell to see what the folks over at Twitter decides to do with this subscription idea. It’ll be interesting to see if it actually works out for them.