Twitter (TWTR) stock jumps on rumors of paid subscription service
Shacknews already has a subscription service, and it appears that Twitter is copying off of our paper.
Twitter's stock jumped 11% today on reports that the company is working on a paid subscription service. Codename Gryphon is apparently already being worked on at Twitter. Shacknews Mercury certainly sounds cooler, to be honest.
Here's what the job listing on Twitter originally read, as reported by CNBC:
“We are building a subscription platform, one that can be reused by other teams in the future. This is a first for Twitter! Gryphon is a team of web engineers who are closely collaborating with the Payments team and the Twitter.com team."
I LIKE YOUR TWITTER PAGE pic.twitter.com/HC6cXDC5FU
— Marc Rebillet (@marcrebillet) November 2, 2018
Twitter (TWTR) certainly needs to do something to better monetize their platform, so the news today is being positively welcomed by shareholders. The company's first quarter of 2020 revenues were flat year-over-year. A successful paid version of Twitter would actually be the answer to a lot of the company's problems, as they have struggled to be consistently profitable like its competitor Facebook.
Shacknews implemented our Mercury subscription service after removing programmatic advertisements from the site in 2018. While, I will readily admit to a rocky start, Mercury has increased our annual revenues by 300% when compared to our ad revenue in 2017. If Twitter is half as lucky as Shacknews, this could be a good thing for shareholders. The key difference between Shacknews Mercury and Twitter "Gryphon" is that we actually have a community that wants to support us. I am not sure a paid version of Twitter will be as well-received by their user base.
I shouldn't judge. Shacknews is still not profitable. This is a challenge that many websites face in 2020, and it will be very interesting to see how this subscription service plays out at Twitter. For today, Twitter shareholders are being rewarded by the money printer.
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Shacknews
replyAsif Khan posted a new article, Twitter (TWTR) stock jumps on rumors of paid subscription service
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The key difference between Shacknews Mercury and Twitter "Gryphon" is that we actually have a community that wants to support us. I am not sure a paid version of Twitter will be as well-received by their user base.
Yuuuuuup. Who wants to pay for Twitter? They'd have to do something very interesting with it to even have a chance.-
Their ad experience is so terrible from a user and advertiser perspective. They gotta do something I guess.
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I like your Twitter page.
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Now they can make money when Russia pays them for their bot accounts.
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Why would you pay for Twitter? I don't even use it for free.
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you're not the target demographic then.
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Because there are people who have millions of followers, and advertise stuff on the platform.
Today, those people can post “sponsored” tweets and get paid directly by the advertiser, meaning Twitter doesn’t get a cut of that. So if you’re Kim Kardashian, and you advertise something to your millions of followers, Twitter should monetize that. That’s the incentive to pay for a subscription. They wouldn’t even need to make people with only a few followers pay for a subscription. They just need to monetize the rain amount of people.-
Oh so it's the more popular users paying for the subscription? Not the average user? Or their followers paying to follow them?
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Ahh got ya. Guess it'll be interesting to see what they come up with at least.
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jack: wait we’ve been giving away all this great racist content for free?
devs: yes sir, growth hacking as much as we can
jack: great but this is a goldmine, we need to monetize these racists much better, get on it -
They should do a mandatory $2 a month to be able to post. It would greatly reduce the amount of bullshit noise- from bots and idiots alike.
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I'm kind of for this, but if it's a "public forum," then this privileges people with the means to get their voice out.
(E.g. this will amplify the voices of folks who have money, since they'll be able to buy accounts to amplify messages.)
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