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Twitter has been dominating the news recently. Elon Musk, the richest person in the world, recently purchased the social platform. While there was some uncertainty about whether the deal would go through, it eventually did. Now that Musk’s in charge, he’s brought about some sweeping changes that have generated many headlines and memes.
Twitter’s New Subscription Fee Explained
Before Musk came along, everything on the Twitter platform was completely free, as the company made its money through advertising. However, Twitter now offers an optional subscription service with a monthly fee of $4.99 or a currency equivalent. Those who pay the fee get a month of access to the platform’s premium features and services.
Premium features include Undo Tweet, which lets you delete a Tweet once sent. There’s also the Blue Tick, which shows your account is authentic and genuine. Many are frustrated that this feature is now locked behind a paywall. Even so, it’s since been confirmed that the subscription service for the blue tick subscription will be coming soon to India, in the next month or so.
Will It Be a Success?
It’s too early to say whether Twitter’s paid subscription is a service. Though the introduction of it has triggered complaints from some, Musk insists it’s in the social platform media’s best interests. Even though lots of articles talk about how news of the service hasn’t gone down well, they don’t speak for everyone. There’s a good chance that enough people will pay the subscription fee and make it financially viable.
People use social media for all sorts of things. Keeping up with others, following the news, and even finding recommendations for games to play are just a few. Lots of people discover things like new casino games through their social feeds, as the targeted ads know to recommend them. Many Indian casinos leverage social media to attract new players and showcase their games. They promote their latest, most popular slots and other games to give players reasons to sign up. The best online casinos in India also offer generous welcome bonuses, such as a welcome package worth ₹126,000 + 150 Free Spins. People like to know about new things in the world, and there’s a good chance that people will pay to continue to be in the loop.
Though Musk’s takeover and new changes may be causing ructions, Twitter isn’t going anywhere. Numbers may experience a dip, but the long-term prospects of the site are still promising. The purpose of the changes is simple: to give Twitter a better, more financially secure future.
Facebook’s Subscription Service
Facebook, like Twitter, makes its money from advertising. People use the platform as much as they like without paying a fee. They regularly see adverts targeted to them, so they’re more likely to respond to the ads.
There is a paid subscription that Facebook offers. However, it’s not the same as Twitter’s – it’s not open to everyone and doesn’t enhance the general experience of using the platform through advanced features. Instead, Facebook’s paid subscription service is for creators and small businesses. The purpose of it is to help independent brands grow through interactions on the platform.
Will Facebook Have Optional Paid Subscriptions?
So will Facebook one day follow in Twitter’s footsteps? There may well be plans to introduce optional paid subscriptions, but nothing’s been confirmed as of yet. Meta (Facebook’s parent company) is likely waiting to see how Twitter fares. If Twitter’s subscription service turns out to be a success, it could pave the way for Facebook to launch something similar.
What could it offer if Facebook were to gain a service similar to Twitter’s paid subscription? Like Twitter, Facebook could only allow those who pay the subscription fee to have their accounts verified. Paying users could have enhanced customer support or more personalisation features, such as better customised news feeds or more control over which adverts they see.
Facebook is the biggest social media platform, with about 2.1 billion users worldwide; roughly 320 million are in India alone. If it starts charging for access to premium features, it could generate huge amounts of money every month. The size of the revenue would greatly outweigh any negative publicity.
Summary
You’ll always be able to use Twitter for free – the same goes for Facebook. Twitter’s simply trying to earn revenue from those who engage with the platform more. There’s no telling whether Facebook’s getting something similar, but the idea is definitely in consideration.