Twitter May Be Gearing Up To Launch Twitter Blue Subscription Module At $2.99 Per Month

Twitter May Be Gearing Up To Launch Twitter Blue Subscription Module At $2.99 Per Month

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An option to retract a sent tweet could be among the new features of a possible paid subscription service from Twitter.

What Happened

Twitter Inc (TWTR) is planning to launch a subscription plan called Twitter Blue, which will cost the users $2.99 per month, app researcher Jane Manchun Wong tweeted on Saturday. Twitter Blue includes a feature to undo a tweet and another for bookmarking. According to Wong, Twitter is working on a tiered subscription model, which could mean a less-cluttered, premium experience for the paying subscribers.

Why It Matters

Earlier this month, Twitter acquired an ad blocker company called Scroll. Wong noted in another tweet that Tony Haile, the former CEO of Scroll, had tweeted on the day his company was acquired that Scroll would “integrate into a broader Twitter subscription later in the year.”

Although Twitter has not confirmed the launch of its subscription module, it has launched new functionalities over the past several weeks. Twitter updated its warning prompt for offensive tweets, introduced a Tip Jar function for people to pay other Twitter users directly for their tweets and content, improved its photo cropping algorithm, and allowed Android users to search their direct messages. 

Last month, Twitter reported a profit of $68 million on revenue of $1.04 billion for the first quarter. The company also reported a 20% increase in monetizable daily active users.

© 2021 Benzinga does not provide investment advice. All rights reserved.

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