Romain Rouillard / Photo credit: CEM GENCO / ANADOLU AGENCY / ANADOLU AGENCY VIA AFP 18:25 p.m., May 10, 2023More than half of the first users who subscribed to "Twitter Blue", the paid service of the social network to the blue bird, have already unsubscribed, reports the specialized media "Mashable". An unprecedented wave of termination that reflects the difficulties experienced by the platform since its acquisition by Elon Musk.
Twitter puts on the galleys like pearls. Already facing economic difficulties and many bugs since it was taken over by Elon Musk at the end of last year, the platform now suffers a form of disavowal on its paid service "Twitter Blue". At the end of November, the Washington Post indicated that 150,000 people had immediately been tempted, but this figure, which already represented only 0.06% of total users, would now be halved.
The specialized media Mashable, quoted by BFMTV, reports that more than 80,000 people, part of the first 150,000 subscribers to Twitter Blue, have now terminated. Proof that the paid service, now essential to be able to display a small blue tick next to its name, does not seduce as much as expected. This exact figure of 54% of termination is also particularly high. According to Recurly Research, the average churn rate is just over 5.5% for any company.
Snapchat's premium offer is more attractive
To date, Twitter has between 640,000 and 680,000 subscribers to its paid service. A starving total compared to its competitor Snapchat which already attracts more than 3 million users on its Snapchat + premium offer. And the removal of blue certifications for all accounts that did not subscribe to Twitter Blue did not generate the wave of subscriptions that Elon Musk had hoped for. As a reminder, Twitter's paid offer allows you to write tweets of 4,000 characters (against 280 normally) or to correct a post after publication. Via Twitter Blue, it is also possible to benefit from a highlight of your account thanks to an algorithm.
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So many advantages that struggle to convince. Well aware of the problem, Elon Musk decided, as if to promote Twitter Blue, to award, of himself, the famous blue badge to certain personalities, including basketball player LeBron James or writer Stephen King. The latter had also denied any subscription to Twitter's paid offer.
You're welcome namaste
— Elon Musk (@elonmusk) April 20, 2023
Although they can turn into a resubscription later, these messy cancellations illustrate the chaos reigning within the social network to the blue bird. Since the arrival of the whimsical billionaire at its head, Twitter has lost half of its top 30 advertisers, cooled by the "uncertainty" surrounding the network. According to research firm Insider Intelligence, its revenue could contract by 28% this year. And for now, Twitter Blue does not appear to be able to extinguish the fire and cushion this shortfall.