Twitter Blue has gained $11 million in mobile subscriptions in three months, data from app intelligence firm Sensor Tower revealed.
TechCrunch reported that Twitter is banking on Twitter Blue as the advertising income rapidly declined. Advertisers have also been hesitant to recommit to Twitter after Elon Musk rolled back earlier protections.
The Sensor Tower report estimated that Twitter Blue has more than 3,85,000 mobile subscribers globally on Android and iOS. It encloses 2,46,000 subscribers from the US spend about $8 million through mobile devices.
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“The loss of advertising demand, fueled both by broader macro uncertainty and Twitter-specific platform issues, has made alternative revenue streams quite appealing for the social media network,” said Abe Yousef, Insights Analyst, Sensor Tower.
Meanwhile, Twitter CEO Elon Musk has offered the company’s employees stock grants at a valuation of nearly $20 billion, a report by the Information said. However, Twitter did not immediately respond to Reuter’s request for comment.