The blue badge, the specialized functions and more sounded nice, but the reality is that Users don’t want to pay for Twitter Bluethe subscription you created Elon Musk desperately to increase the revenue of the social media company.
However, the numbers speak for themselves. A new report from The Information reveals that Only 180,000 US users or less than 0.2 percent of all monthly active accounts have signed up for Twitter Blue.
The aforementioned media also reported that about 62% of all subscribers are in the US, which means that the platform has approximately 290 thousand subscribers worldwide.
The Twitter debacle
As he recalls a report published on the website of Vanity FairMusk introduced Twitter Blue a few months ago, which charges an $8 monthly fee for a verification badge and $11 for a subscription on iOS. The initial goal, in addition to raising more money, was to “democratize” Twitter and portray the old verification system.
Twitter Blue coincided with mistrust from some advertisers, which accounted for $750 million in ad revenue for the company in 2022, but in November of last year many stopped their ads due to mistrust following the acquisition of Elon Musk. Some have returned, others have not.
Musk recently acknowledged that his tenure as CEO of Twitter has been “extremely difficult,” adding that he “had to save Twitter from bankruptcy, while performing essential duties to Tesla and SpaceX.” But he also assured followers that Twitter’s financial state “now tends to break even.”
Last 3 months we 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 break even if we keep at it. Public support is much appreciated!
— Elon Musk (@elonmusk) February 5, 2023
The failure of Twitter Blue also worries Elon Musk because he expected Twitter Blue’s earnings to account for half of the money the company generated and $3 billion in revenue by 2023, and the way things are going, it looks like it will only be less. $30 million.