Twitter Blue, the subscription service launched by the social media platform in June 2021, has reportedly made just $11 million on mobile in its first three months. The underwhelming performance of the service has led to speculation about whether the company can effectively monetize its user base beyond advertising revenue.
Twitter Blue, which costs $2.99 per month, offers users several additional features, including the ability to undo tweets, bookmark folders, and reader mode. However, the service has been met with mixed reviews, with some users questioning whether the additional features are worth the cost.
According to a report by mobile analytics firm Sensor Tower, Twitter Blue was downloaded approximately 175,000 times in its first three months. The majority of these downloads came from the United States, with the rest coming from Canada, Australia, and the United Kingdom.
While $11 million may seem like a significant amount of revenue, it is a drop in the bucket compared to the $1.19 billion in revenue that Twitter generated in the second quarter of 2021. The underwhelming performance of Twitter Blue has led some industry experts to question whether the subscription model is viable for social media platforms.
Despite the low revenue, Twitter remains committed to growing the service. In a recent earnings call, Twitter CEO Jack Dorsey stated that the company is “very early on in our understanding of what subscription revenue means for Twitter,” adding that the company is “excited about the potential” of Twitter Blue.
Twitter has also hinted that it may be developing additional subscription services in the future. In a recent job listing, the company advertised for a “Senior Product Manager” to “drive the growth and evolution” of its subscription business.
Whether Twitter can successfully monetize its user base beyond advertising revenue remains to be seen. However, the underwhelming performance of Twitter Blue highlights the challenges that social media platforms face when attempting to diversify their revenue streams.