How much revenue Twitter Blue generated for Elon Musk? - Hindustan Times

How much revenue Twitter Blue generated for Elon Musk?

Mar 25, 2023 06:46 PM IST

Twitter Blue paid subscription is vigorously backed by new boss Elon Musk to raise money for the platform.

Twitter Blue, which was announced over three months ago, has earned only $11 million ( 90.5 crore) in mobile subscription revenue, according to data from app intelligence firm Sensor Tower, raising an important concern for the microblogging website and its new owner Elon Musk who promoted paid verification as an alternative to advertisement-based business model .

Twitter Blue is premium service by Elon Musk-led social media platform.(Twitter)
Twitter Blue is premium service by Elon Musk-led social media platform.(Twitter)

The micro-blogging platform launched its premium subscription Twitter Blue which offered the coveted blue badge on paid profiles. Musk, with eye on raising revenue, introduced it as one of the main changes brought about after acquiring Twitter in a contentious $44 billion deal. Although Twitter Blue was originally launched in limited markets back in 2021, it got vigorous backing after Musk took the company his hand.

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Twitter Blue users can post longer videos, get 50% fewer advertisements, get early access to new features. Their posts will also be prioritised and can be edited up to five times within 30 minutes of posting. Indian users can subscribe to Twitter Blue after paying 650 and 900 per month on website and mobile, respectively.

The data says that paid subscription has over 3,85,000 mobile subscribers globally on both iOS and Android. U.S. is its largest market, with 246,000 subscribers spending around $8 million ( 65.8 crore), reported Tech Crunch.

In India where it was launched in February, the report adds, Twitter Blue has generated revenue of only $301,000 ( 2.4 crore), from around 17,000 mobile subscriptions.

India became Twitter’s sixth-largest mobile market in terms of in-app purchases following the local launch of Twitter Blue. The country represented Twitter’s eighth-largest mobile market for in-app purchases nearly 10 months before the company’s acquisition and Twitter Blue’s subsequent launch and relaunch, Abe Yousef, senior insights analyst at Sensor Tower was quoted by Tech Crunch as saying.

It should be emphasised here that this revenue projection excludes web-based subscriptions and does not differentiate between annual and monthly Blue subscribers. Furthermore, the figures cover the 20 markets where Blue was available till last week, while Twitter only made the service launched it globally on Friday.

Twitter stated on Friday that it would be discontinuing the legacy blue tick from accounts, making it necessary for profiles to pay for the badge. It remains to be seen how many people move to the paid plan after the removal.

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