Paid Twitter subscribers accounted for less than 0.2% of U.S. monthly users two months after Elon Musk launched Blue, the report said

• US Twitter subscribers accounted for less than 0.2% of monthly users in January, according to The Information.
• That was two months after Elon Musk launched Twitter Blue, the platform’s $8 blue tick feature.
• The documentation cited in the publication states that Twitter has 290,000 subscribers worldwide.

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Twitter subscribers in the US accounted for less than 0.2% of monthly users in January, two months after Elon Musk launched Blue, The Information reported Monday, citing a document.

This means that as of mid-January, about 180,000 Twitter users in the US have paid for subscriptions to the platform, such as the $8 Blue feature, according to the document reported by The Information.

Twitter’s 180,000 subscribers in the US accounted for 62% of the platform’s global subscriber base, which gave 290,000 subscribers worldwide, according to the report.

Musk said he wants Twitter to make $3 billion in revenue this year. According to the document, the total number of global subscribers would contribute $28 million in annual revenue, or less than 1% of the $3 billion figure, The Information reported.

Two people with knowledge of the matter told The Information that Blue’s revenue was less than $4 million a year before Musk took over Twitter. The resulting revenue, which the worldwide subscriber numbers suggest, is therefore much higher than before the acquisition.

In an attempt to generate more revenue, Twitter will make businesses pay $1,000 a month to keep their gold verification tick.

Twitter did not immediately respond to Insider’s request for comment, which was made outside of normal US business hours.

After buying Twitter for $44 billion in late October, Musk has slashed costs across the company by laying off thousands of employees, refusing to pay certain bills and using some employee perks like food and healthcare.

Amid the chaos, Musk revamped Blue, Twitter’s blue tick verification feature, but the rollout came with various complications, including people posing as well-known accounts.

Musk on Sunday called Twitter is now “trending to break even”. added The company is “definitely not financially healthy yet” and a lot of work is needed to get to this point.

Source: www.businessinsider.com