For an undisclosed amount, ‘Twitter’ has acquired the newsletter publishing platform Revue, which focuses on long-form content and subscription-oriented products. Revue’s Pro features will be amendment by Twitter, which will be available for free to all accounts and lower the charges from paid newsletters from the current 6% fee to 5%.
Twitter product lead Kayvon Beykpour and VP of Publisher Products Mike Park commented posts in an official blog. “Revue will be accelerating your work to help people stay informed about their interests while giving all types of writers and a way to monetize their audiences whether it is through at a publication, their website, on Twitter, or elsewhere.” Revue has got a foundation in 2015. The main focus of Revue is to allow the writers and publishers to send free and paid newsletters among others. Chicago Sun-Times, The Markup, and Vox Medias are some of the customers of Revue.
This Dutch startup will be remaining as a standalone service within Twitter, and the team will be focusing on improving the ways of writers to create their newsletters, build their audiences, and get paid for their work. Beykpour and Park say that Twitter has a plan to expand the team across the areas of engineering, design, research, and data science, which will build more discovery, reading, and conversational experiences concentrating around long-form content on those areas.
Jack Dorsey the chief executive of ‘Twitter’ had stated plans to explore an alternative revenue stream include a subscription model during the company’s earnings conference call held in July last year. Dorsey said during the earnings conference call, “that they are now at a place where they can explore other ideas and likely see some more tests this year. They have a small team who explores their options and they are the high bar for when they would ask consumers to pay for aspects of Twitter”. This deal comes as newsletter platforms that resulted in Substack have been witnessed increased traction and attracted several high-profile writers and columnists. Among many of them are now running their subscription-based publications.
Beykpour and Park said in the blog post, “that they aim to make it easy for writers to reach their subscribers and also help readers to discover better writers and their content. They are planning a lot of ways to do this, some of the ideas are allowing people to sign up for newsletters from their favorite follows on Twitter and developed innovations in settings for writers to host conversations with their subscribers”. All this work can be done seamlessly within Twitter,” In the forthcoming ‘Twitter’ will develop and implement new ways to support audience-based monetizations.
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