Elon Musk, the new CEO of Twitter, is a strong supporter of the premium subscription to raise money for the service. Data indicates that the service has not yet gained traction. It should be stressed that web-based subscriptions are not included in this revenue prediction.
According to data from app intelligence company Sensor Tower, Twitter Blue, which was announced more than three months ago, has only made $11 million (roughly $90.5 crore) in mobile subscription revenue, raising a significant issue for the microblogging website and its new owner Elon Musk who promoted paid verification as an alternative to an advertisement-based business model.
The microblogging service Twitter introduced Twitter Blue, a premium subscription that granted the coveted blue badge for paid profiles. Musk announced it as one of the primary improvements made after acquiring Twitter in a contentious $44 billion acquisition to increase income. Twitter Blue was initially introduced in a few select areas in 2021, but after Musk seized the firm by hand, it received strong support.
Users of Twitter Blue have access to new features earlier and can post longer videos with 50% less advertising. Additionally given priority, their postings can be revised up to five times within 30 minutes of publication. Indian users can sign up for Twitter Blue by paying 650 or 900 per month, depending on whether they use a computer or a mobile device.
According to the data, there are more than 3,85,000 paying mobile members worldwide on both iOS and Android. According to Tech Crunch, the United States is its largest market, with 246,000 customers spending about $8 million (65.8 crores).
According to the article, Twitter Blue has only brought in $301,000 (2.4 crores) in revenue in India, where it was launched in February, from roughly 17,000 mobile subscribers.
Following the local debut of Twitter Blue, India rose to become the sixth-largest mobile market for in-app purchases for Twitter. Nearly 10 months before the company was acquired and Twitter Blue was launched and relaunched, the nation constituted the eighth-largest mobile market for in-app purchases for Twitter, according to Abe Yousef, senior insights analyst at Sensor Tower, who was quoted by Tech Crunch.
It should be stressed that this revenue prediction does not account for web-based subscriptions or make a distinction between Blue members who pay on a monthly or annual basis. The statistics also include the 20 markets where Blue was offered up until last week, but Twitter only made Blue available globally on Friday.
Twitter announced on Friday that it would stop allowing accounts to have the traditional blue tick, forcing profiles to purchase the badge. How many users switch from the free plan to the paid one after the removal is yet unknown.