Twitter Blue members will have to pay extra each month starting this week. The monthly fee for Twitter Blue is increasing from $2.99 to $4.99 in the US and other territories. Current Blue members will be spared the higher expenses for a few months, but everyone will pay 67% more in October – with no new services or procedure changes. Nothing.
Given Twitter Blue’s poor performance, this seems surprising. Twitter’s income from subscriptions and other sources was $100 million in Q2 2022, a 36% year-over-year decline.
Twitter CEO Parag Agrawal said in May that the business ‘had not met intermediate milestones that permit confidence’ with its new revenue and development programs, notably Blue.
Twitter hasn’t disclosed official figures, but independent data from app stores suggests it doesn’t make much from subscriptions.
Why increase prices?
It’s a bad decision that will result in more consumers dropping the extra expense. Will many individuals pay $5 per month for NFT profile images and bespoke symbols amid a larger economic downturn?
Nope. Twitter wants to earn money, and its upcoming court fight with Elon Musk will increase legal expenses, as critics have remarked. If Twitter is going to beg for more money, it seems like it should at least sweeten the package.
Snapchat+, comparable to Twitter Blue, is already exceeding Blue memberships a month after its debut. Snapchat S+ users may access a desktop version of the software.
There are methods to make subscription services work, but I’m not convinced randomly raising the price is the growth hack Twitter thinks.
