Coronavirus pandemic has hit businesses across the world. And now, social media giant, Twitter is also exploring additional ways to make money.
The ‘microblogging’ platform is eyeing subscription options to generate more revenue from its users.
The app has suffered a sharp decline in the score of advertising business. Many advertisers have pulled out from the site due to the pandemic.
It reported a 23 percent decrease in ad revenues in the 2nd quarter of 2020.
The app had reported 2nd quarter ad revenues of $562 million dollars and a 23 percent decrease compared to the same which was in the quarter of a year ago.
Twitter SEO, Jack Dorsey, has confirmed this move as well and Twitter’s earning reports followed. What Dorsey describe as a tough week in which the company’s scrambled to address a massive hacking attack as well.
This attack had compromised numerous verified and popular accounts including the accounts of former U.S. President Barack Obama, the current democratic presidential candidate, Joe Biden, Tesla’s Elon Musk, as well as Amazon’s CEO, Jeff Besos.
Twitter is working on the potential subscription platform for the first time. However, there is no clarity how the social media platform would go about it.
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