As per a document seen by The Information, Twitter is having only 180,000 people in the US paying for the Blue subscription as of mid-January. And they represent 62% of the whole paid subscription base!
This means Twitter is calculated to earn $27.8 million per year – if they’ll continue to be paying for the upcoming months. Though it’s a smooth start considering the service was launched just a month ago, it may not be meeting the expectations of Elon Musk.
Twitter Blue Subscribers
If you’ve been observing the Twitter drama since last year, the company has seen the worst situations triggered by many factors yet managed to continue with some community hope. One of the intriguing things it faced was a revamped Blue subscription – that Elon Musk introduced.
On the perks of offering fewer ads, access to experimental features, and a verified badge, this subscription usually costs $8 a month ($7/month if paid annually) or $11 a month if subscribed through the Twitter iOS app. It was initially launched in November but quickly rolled back due to drastic consequences it caused too many.
Well, it was reintroduced in mid-December anyway and had been running as expected so far. Today, a report from The Information revealed that Twitter is having only 180,000 Blue subscribers from the US by mid-January 2023. That represents just 0.2% of the platform’s overall monthly active users.
Also, the report mentioned seeing the US Blue subscribers representing 62% of the whole paying bunch – translating to approximately 290,000 subscribers globally. At this count, it’s estimated to earn $27.8 million per year if all are paid through the annual period.
Though it seems okay for now, considering the service began just a month ago, it wasn’t what Elon Musk was expecting! Last year, Elon Musk reportedly told his employees that Twitter should earn half of its earnings from the Blue subscription!
This seems unreasonable considering the initial growth we see now – though it has scope to gain more users over time. But if Musk wanted to fill in Twitter’s huge debt with this subscription revenue, it’s just madness! For instance, the company’s interest payments alone stand at $1 billion a year!