According to CNN, Twitter CEO Jack Dorsey has commented that the company is thinking of adding subscription systems to pay for certain functions of its popular social network and that these are in an early phase of exploration.
That means we won’t see a subscription system anytime soon, but the company is starting to investigate what that model might look like. In fact, they have launched a job offer looking for developers to create a subscription platform called Gryphon.
Until now, Twitter bases its business model on a free social network for users, monetizing the service through advertisers and companies that use the network as a means of promoting their services or products. However, Twitter’s advertising revenue is down 23% compared to the same quarter last year due to the coronavirus pandemic.
This could cause plans for alternative monetization systems, such as a subscription to pay for certain services, to accelerate and see it sooner than expected. It’s still too early to know what features paid subscriptions will include, but the company has been testing new reactions and other extras in recent months for some time.
Also, Twitter has recently made headlines for a computer attack against several of its workers whereby hackers gained access to accounts of personalities such as Elon Musk, Obama, or even Bill Gates.