Elon Musk’s Twitter Blue subscription isn’t drawing the subscribers that the billionaire might have hoped.
There are reportedly only 180,000 subscribers in the US, which is only 0.2 percent of Twitter users.
This news comes from a report from The Information. It reveals the lackluster number of users who pay $8 a month for Twitter Blue.
The 180,000 subscribers in the US make up around 62 percent of Blue subscribers worldwide.
With that math, it means Twitter Blue has around 290,000 subscribers worldwide, less than 1 percent of the platform’s active users.
When Musk took over Twitter, his focus was to make the company profitable. He started strong out of the gate, removing a few executives.
And it didn’t stop there. Musk continued to fire people as part of his efforts to cut costs.
On the revenue side, Musk has stated he wants subscriptions to make up half of Twitter’s overall revenue. However, Twitter Blue is only set to make around $27.8 million with the reported number of subscribers.
For comparison, Twitter will pay around $1 billion in interest payments from Musk’s loan to purchase the platform. The Twitter Blue subscription number would have to go way up to reach Musk’s goals.
However, it looks like Twitter Blue is just the beginning of Musk’s subscription plans for the platform. The company is considering a higher-priced Twitter Blue tier for ad-free browsing.
Musk is also considering charging up to $1,000 for gold company verification badges. I’m not sure how many businesses will be down to pay that kind of money, but that could go a long way in increasing Twitter’s subscription revenue.
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