Twitter to launch a subscription option
Twitter is working on plans to launch a subscription option to boost its revenue bracket.
This is amid mounting pressure from activist investors for the platform to accelerate the platform’s business.
According to a report by CNN, there’s a job listing which seeks a senior software engineer in New York to join Gryphon, described as a “new team” that’s “building a subscription platform” that can be reused by other teams in the future.
The platform’s shares rose 8 percent Wednesday afternoon following a job posting that said the company is building a subscription platform codenamed “Gryphon,” according to a CNN report.
“We’re conducting this survey to assess the interest in a new, more enhanced version of Tweet-deck. We regularly conduct user research to gather feedback about people’s Twitter experience and to better inform our product investment decisions, and we’re exploring several ways to make Tweetdeck even more valuable for professionals.” A Twitter spokesperson said at the time.
Twitter has been focusing on offering a free service and making money by allowing brands to target ads to its large user audience.
A paid subscription offering could help the company find a source of revenue beyond advertising and data licensing.
In March 2017, the micro-blogging service had to offer an advanced Tweetdeck experience with more powerful options for businesses and power uses under efforts to broaden its revenue base in view of dwindling advertising income, then.