He said (Jack Dorsey) Jack Dorsey, CEO of Twitter, said Wednesday: The company is considering allowing its users to receive gratuities or digital payments from its followers.
Dorsey explained that the feature helps the social media platform to earn more money and engagement from its 192 million daily user base.
“I think the first thing we want to focus on is the economic incentive for people who contribute to Twitter,” he said at the Goldman Sachs Virtual Technology and Internet Conference.
Providing user perks and new features, such as content subscriptions, will help the company diversify its revenue, which it currently earns mainly from selling ads on Twitter.
On Tuesday, the company said during a earnings call with analysts: It does not expect the subscriptions to be beneficial to the company’s revenue until next year.
And last month, Twitter bought the start-up newsletter Revue, as it hopes to attract users who want to create long-form content.
Dorsey also said: He envisions the SMS service becoming less centralized over time, a development that gives social media users more control over their data and the type of content they see.
He added: We want to stay in the forefront where the market moves and where people move, and I think very much that this trend will come true.
In the 40-minute interview, Dorsey spoke on a variety of topics, including regulation and Twitter’s plans to explore revenue outside of ads.
Twitter is looking for new ways to generate revenue outside of ads, and this includes ideas like charging a subscription fee for services like TweetDeck, a dashboard for scheduling tweets and managing multiple accounts.
Bloomberg reported on Monday that Twitter is also looking into charging exclusive content or ad-free feeds.
Dorsey talked about the different ways that Twitter is looking to give users more control over their experience across the site.
Twitter users may be able to choose different algorithms that social networks use to select the content users see, in order to streamline their experiences.
And external developers can also create private algorithms for people to choose.