Business

Twitter will explore letting users receive payments from followers

By Sheila Dang

(Reuters) – Twitter Inc Chief Executive Jack Dorsey said Wednesday the company is exploring allowing its users to receive tips, or digital payments, from their followers.

Dorsey said the feature would help the social media platform earn more money and engagement from its base of 192 million daily users.

“I think the first thing we want to focus on is that economic incentive to people who are contributing to Twitter,” he said at the virtual Goldman Sachs Technology and Internet Conference.

Introducing user tipping and new features like content subscriptions would help the company diversify its revenue, which it currently earns mainly from selling advertising on Twitter.

The company said Tuesday during an earnings call with analysts that he did not expect subscriptions to be meaningful to the company’s revenue until next year.

Last month, Twitter bought newsletter startup Revue, as it hopes to attract users wanting to create long-form content.

(Reporting by Sheila Dang; Editing by Lisa Shumaker)

Read the original article on Business Insider

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