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Introducing Twitter Blue: Twitter's First-Ever Paid Subscription Service

For all of you who have ever said, “I can’t believe this app is free,” you may soon have your chance to pay for the app. Twitter has revealed that it is upgrading its free platform with a few new paid features users can subscribe to. This week, the social network announced the launch of its first-ever paid subscription service, Twitter Blue, designed to empower users with exclusive new tools to enhance their social media experience for a small monthly fee. Twitter Blue marks the company’s first attempt at creating a subscription business model that also has the potential to diversify Twitter’s revenue streams — much of which comes from advertising, according to its first-quarter earnings report. The new service is being introduced as a response to the consistent feedback it’s gotten from users asking for perks to help elevate their profiles and tweets. “We’ve heard from the people that use Twitter a lot, and we mean a lot, that we don’t always build power features that meet their...

Njera Perkins

Jun 4, 2021

Are All Customers Created Equal? Why Your Company Should Consider A Subscription-Based Business Model

Many businesses are getting creative and converting their business model into one that is more subscription-based. Taking into account that 41 percent of U.S. retail revenue is generated by repeat customers, a recurring billing option for one-time customers might not be such a bad idea. Forbes reports that Amazon’s Prime membership could add $18 billion to their revenue by 2020. Stats like Amazon’s, makes us question: Are all customers created equal? Here’s why your company should consider converting one time customers into subscribers. One time customers become lifetime customers Remember when you would go to your local electronics store and buy Microsoft Word or Office CD’s to download the software on your computer? Well, today Microsoft has a subscription option for customers who would have otherwise been one-time customers. Microsoft’s subscription plan offers a one month free trial, then an annual $99.99 per customer. Seeing as though Word is most likely necessary for those who...

Devin Crudup

Nov 8, 2019

Patreon acquires Kit, creators can now include merch in subscriptions

Patreon helps content creators sell monthly content subscriptions to its fans. Currently, 2 million patrons are backing more than 100,000 of their favorite creators on the platform. Kit is a startup that launched with the idea to help people discover products worth getting while influencers are able to share their favorite products and earn revenue from the sales. With Patreon’s recent acquisition of Kit , monthly subscription packages will now be able to offer so much more in the way of merchandise, which will further encourage subscriptions at higher monthly tiers than before. With the acquisition, Kit, which has raised $2.5 million since it was founded, is able to continue its commitment to “connecting creators and fans and followers and to making it easier to reward creativity and expertise.” Patreon, which has a valuation of nearly $450 million, plans to build an open merchandise provider platform. Creators who are already using Kit will not lose their revenue streams during...