Twitter is reportedly considering adding subscription options to its services, after its advert revenue dropped due to COVID-19 pandemic.
According to CNN Business, Twitter Chief Executive Officer, Jack Dorsey, disclosed the new development during an investor’s conference call on Thursday.
“You will likely see some tests this year”, Dorsey was quoted as saying.
He also said he has “a really high bar for when we would ask consumers to pay for aspects of Twitter,” but clarified that the company is seeking other means to bring in revenue that are in “very, very early phases of exploring”.
“We want to make sure any new line of revenue is complementary to our advertising business,” Dorsey continued.
“We do think there is a world where subscription is complementary, where commerce is complementary, where helping people manage paywalls … we think is complementary”.
The news comes days after the micro-blogging site suffered a major security breach, when hackers took control of several accounts of major public figures, and instructed people to transfer cryptocurrency to have it doubled, which many fell for, thinking it was real.
The hackers took control of the accounts of major public figures and corporations, including Joe Biden, Barack Obama, Elon Musk, Bill Gates, Jeff Bezos, Kanye West, Uber, and Michael Bloomberg, alongside many others.
During the conference call, Dorsey apologised for the breach, and promised to provide strong security measures to ensure that the same incident does not occur in the future.
“We feel terrible about the security incident,” he stated.
“Security doesn’t have an end point. It’s a constant iteration … We will continue to go above and beyond here as we continue to secure our systems and as we continue to work with external firms and law enforcement.”