Twitter to charge fees?
9 months ago, Gary Vaynerchuck began his blog by expressing how little he cares for the amount of people that consume his content. Instead, he is more concerned with the impact he’s making.
I imagine his audience is composed of small business owners, eager millennials, CEOs. To me, he just seems to be telling them all the same thing over and over again: Just do it.
Its more difficult for a large company like twitter to take his advice. It seems just doing it has done nothing but put them in a financial ditch. Twitter’s CEO, Jack Dorsey said to Forbes that in the past “we’ve over-indexed into the people that we don’t have…” Instead of working with the users they do have, they explored too much and with the wrong people.
Consequently, Twitter had a rough 4th quarter with 0.9% revenue. That’s less than their Chinese clone, Weibo. Yep, China has cloned yet another American product and out profits them by millions. Twitter is a joke on Wall street.
But not on Pennsylvania Ave. Twitter is President Trumps’ platform of choice for releasing news. In fact, Dorsey bragged to investors at the Goldman Sachs conference that “We break news faster than anywhere else on the planet”. Twitter’s activity with its current users is booming. Although I don’t use any social media much these days, I wasn’t surprised to hear that their current user activity wasn’t a problem. America loves twitter. Commentary, videos, and photos of most of the worlds biggest current events will be streamed almost live to twitter. Oh they’re making an impact alright. You’d think it’d be easy to make more money. Turns out it is.
One poll concluded that 32% of (about 21k)people would pay to use twitter for between $1 and $5 or more dollars a month which would result in millions of dollars in revenue. Now, who took this survey? Who ever follows Clay Travis. I doubt my average followers would have to pay a dime. Coincidentally, within days after the polls, the CEO bought $7 million in stocks of Twitter… Why so confident Dorsey?
Could twitter actually be about to offer some premium package? What exclusive features could be offered? How much will they charge? More importantly, who will have control of the news now? And will it be worth it, Dorsey… to impact the impact already being made?
In the second installment of the Community Accomplishment series, I want to continue to highlight other success stories…www.garyvaynerchuk.com
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