Despite what Elon Musk would have you believe, Twitter Blue isn’t as popular as it should be.
Remember when Musk said it would initially cost $20 a month, then dropped the price to $8 after Stephen King said he would ‘disappear like Enron’ before paying the steep subscription?
Exciting times.
Blue Twitter Report
A recent report by The Information suggests that only 180,000 people in the United States subscribe to Twitter Blue, which is just 0.2% of the platform’s monthly users in January. [1]
In addition, 180 000 US-based users make up approximately 62% of the total number of Twitter Blue subscribers, of which there are only 290 000 worldwide.
But if you take Musk’s word, Twitter is “trending towards breakeven”. However, he is quick to add that the platform is not yet financially stable:
Shortly after taking the reins, Musk said he wanted to generate $3 billion this year, with subscription revenue making up 50% of the platform’s intake.
According to a leaked Slack chat from October 2022, Musk believes that the increase in subscribers “can help conversion”. [2]
However, based on the $8 price tag (and assuming some users pay $7 for an annual subscription, or $11 through the app store) – Twitter Blue only brought in $27.8 million, give or take a few cents.
How Americans feel about Twitter
Meanwhile, The Harris Poll learned that most Americans do not believe there is a bright future on the cards for social media platforms. [3]
About 63% of women surveyed oppose Musk’s ownership while 53% of Gen Zers believe the billionaire will undermine the quality of Twitter’s products.
Women in general and Gen Zers are also less likely to pay monthly subscriptions (only 28%). The report says there is hope for Musk’s vision, but mostly among “older conservative men.”
“While the paywall appears to be challenging (in people’s opinion), when looking at Twitter’s ad breaks, it’s important to hear both narratives.
“Despite critics, many Twitter users are excited about Musk’s ownership and the prospect of greater freedom of speech. As a result, the overall profile may shift toward being more masculine, older, and somewhat conservative.
Twitter verification controversy
Twitter recently expanded access to Blue to countries that previously denied access to this amazing feature, including Saudi Arabia, France, Germany, Italy, Spain and Portugal.
For the original blue tick – now called Legacy Blue Verified – received a pre-Musk-takeover, new Chief Twit said it is “unfortunately very damaged, so it will be gone in a few months”.
And in other news, Matt Navarra, a social media analyst, on February 3 said Twitter “reportedly sent an email to a business signing a $1,000 monthly gold check.”
He shared a screenshot of his email on Twitter, which promised the organization of affiliate badges, access to the administration portal, as well as Tweet Boosting, and other features.
The second image shows an official Product account that reportedly tells users that it costs $1,000 per month.
Also read: Affiliate badge: Twitter may display your employer’s logo on your personal account
Source:
[1] Information Report
[2] Slack chat leaked
[3] Harris Poll