In exchange for that low ceiling, though, reporters got some great benefits, especially if their newsroom was unionized: health care, legal protections, editing, distribution of their work, and a regular salary. It’s also probably not enough to buy a house in any of the cities where, before the pandemic, you could actually get a job paying $150,000 a year. That’s great money compared to most jobs in America. An ace reporter at a major American newspaper will struggle to make more than $150,000 a year. But they also come with a relatively low ceiling, at least by the standards of top performers in other industries. And I wonder if Super Follows and similar features on other platforms won’t be the thing that breaks them for good.Ī staff writing job in journalism can be a wonderful thing, and there are far too few of them available these days. The economics of working in a newsroom were already starting to look brittle when Substack came around. The first thing I predict is chaos in newsrooms around the world. (When it bought Revue last month, it reduced the company’s take of paid newsletter revenue to 5 percent, from 6.) It’s also worth considering how Twitter’s plans may be challenged by in-app purchase rules from Apple and Google - will solo creators really have to give up 30 percent of a $5 per month subscription to the smartphone maker, in addition to whatever Twitter and its payment processor take?īut for our purposes today, let’s assume that Super Follows roll out soon, and on agreeable terms to some large set of creators. There is no timeline for Super Follows to launch, and it’s unclear on what terms Twitter will eventually offer the product to creators. After a decade in which platforms’ ideas about creator monetization stopped and started with sharing a fraction of advertising revenue with their top stars, the giants are now taking talent seriously. Two, as a longtime Twitter observer who has often been frustrated with its glacial approach to product development, I’m gratified to see the company begin to capitalize on the opportunity that has always lay in front of it.Īnd three, Super Follows represent a surge of interest in tools to let individuals create real economic value for themselves on social networks, giving creators more opportunity than they’ve ever had before. One, as I wrote here Monday, it speaks to the ways in which competition is returning to social networks, reducing the power of individual platforms to set all speech and behavior norms for the global internet. I’m excited about today’s Twitter news for several reasons. In addition to what Fischer describes above, mock-ups of Super Follows showed a creator charging $4.99 a month for features including “deals & discounts” and “community access.” Twitter also said it's experimenting with putting other features behind a paywall, including its Tweetdeck portal that allows hyper-engaged Twitter users to monitor lots of tweets in real-time. The product will allow Twitter users to charge for premium content, like a newsletter subscription, badges showing support, or bonus tweets. Twitter announced it will create a new feature that allows users to charge their followers for more content via a payment tool called "Super Follows." The strategy that got everyone’s attention, though, was a move to introduce a paywall for certain tweets. And further investments in automatically generated “topics,” launched last year, will make it easier for new and casual users to build an interest graph - and for Twitter to serve targeted ads to them. A forthcoming “Communities” feature will introduce the idea of Facebook-style groups to the service. New automated blocking and muting tools will make Twitter a more welcoming place, particularly for women and underrepresented groups. Twitter executives offered a variety of strategies Thursday for reaching these goals. Twitter said in its last earnings report it had 192 million mDAUs in Q4 2020. This is the first time Twitter has set long-term goals for revenue and daily users and it comes ahead of the company’s analyst day on Thursday afternoon. The announcement was made in an SEC filing. Twitter said Thursday it aims to have 315 million monetizable daily active users (mDAUs) by the end of 2023 and to at least double its annual revenue in that year. On Thursday Twitter held an event for analysts, and like Snap before it, the company is betting that good times are here to stay. Today let’s talk about Twitter’s move into subscriptions, and some of the more unpredictable effects it might have on the media landscape.
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4/10/2023 11:10:46 pm
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