Twitter hits 180,00 paying subscribers bringing it an estimated $27.8 million a year
Per The Information
After we reported that Twitter was getting closer to breakeven and Elon Musk himself replied, saying the social platform is trending to be financially healthy, a report shared how the platform now has 180,000 paying subscribers in the US. Musk shared how difficult the past three months were per our earlier report.
Musk: "Last 3 months were extremely tough, as had to save Twitter from bankruptcy, while fulfilling essential Tesla & SpaceX duties. Wouldn’t wish that pain on anyone. Twitter still has challenges, but is now trending to breakeven if we keep at it. Public support is much appreciated!"
In a document viewed by The Information, it was revealed that the platform already had 290,000 global subscribers, with the US accounting for 62% of total paying subscribers. This included those paying for the Blue Verified on the web and iOS.
The difference between Twitter Blue Verification on the web is that it only costs subscribers $8, while iOS users have to pay $11 through Apple. This is because the latter gets a 30% off the subscription.
So far, the social platform's subscriptions are poised to bring the company at least $27.8 million. This is still far from Musk's target of reaching $3 billion in revenue for 2023, per Engadget.
The total paying subscribers per mid-January data amounts to a small share of total active monthly subscribers. The document revealed that less than 0.2% of total active monthly users pay for their subscriptions.
This comes as the platform is applying for regulatory licenses throughout the US. Twitter was reportedly also designing software needed for the platform to introduce payments.
The news also comes shortly after Musk was found not-guilty of securities fraud with Tesla. The CEO was sued for his previous tweet that said that he would take TSLA private.
Musk: "Thank goodness, the wisdom of the people has prevailed."
See flow at unusualwhales.com/flow.
Other News:
- Elon Musk says Twitter is “trending to breakeven”
- Elon Musk is not liable in securities fraud case over go-private TSLA, Tesla, tweet
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