Half of Twitter users won’t pay to use the site: the data

  • Elon Musk wants subscriptions to make up 50% of Twitter’s total revenue.
  • However, many users say they won’t pay for the service, according to a survey.
  • A marketing expert said creating a mandatory subscription model could drive people off Twitter.

Elon Musk is betting subscription revenue can trigger Twitter’s revenue woes, but data shows many users may not be willing to pay to use the platform.

Musk said he wants subscriptions to make up 50% of Twitter’s total revenue, according to a post from a vice president about an internal company slack.

The message, which was shared on Twitter by Platformer’s Casey Newtonsaid Musk thought the subscription goal “could help with conversations” and “paying by credit card could help with bots.”

However, a survey by The Harris Poll, a global market research and consulting firm, found that half of frequent US Twitter users said they would abandon the platform if it came with a subscription. monthly.

The company surveyed 2,063 American adults, including 1,212 Twitter users, from Oct. 20 to Oct. 28, the week Musk took over the company.

Pinar Yildirim, professor of marketing and economics at the Wharton School, told Insider that introducing a subscription model on Twitter could even drive users away from the platform. Yildirim said many users were waiting to see if Twitter would become a subscription.

“Concerns about subscription changes have caused some users, whether they have higher status like certain celebrities or ordinary users, to express a desire to potentially explore other platforms,” he said. she stated.

“If in the end the revenue model becomes such that everyone on Twitter has to pay a price,” she said, “that will clearly lead to a movement of users who may find it too expensive to simply be on Twitter”.

Gone like Enron

Some public figures have said they would quit the platform if Twitter started charging for verification.

“$20 a month to keep my blue check? Damn they should pay me,” bestselling author Stephen King tweeted. “If instituted, I left like Enron.”

The now-suspended Twitter Blue subscription had about 140,000 paid subscribers as of Nov. 15, according to data published by The New York Times.

If Musk wants to generate enough revenue to pay the $1 billion in interest owed on Twitter’s debt each year, it would need to add about 10 million more paying customers, according to social media. expert Matt Navarre.

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