Twitter has revealed its Q2 2020 earnings figures, posting a revenue of $683 million in
Q2 (down 19% YoY) and recording a growth of 34% in its average monetizable DAU (mDAU) count. As businesses across the world reel from the financial impact of coronavirus pandemic, Twitter is exploring a subscription-based model to bring more money in its coffers and offset the losses.
Twitter chief Jack Dorsey mentioned (via CNN) that the company is still in the very early stages of exploring this subscription-based model, but users will likely see some tests later in 2020. Notably, Dorsey added that the company has set “a really high bar for when we would ask consumers to pay for aspects of Twitter.” However, it is quite likely that Twitter will continue to offer the free, ad-supported model on a larger scale.
“We are also in the early stages of exploring additional potential revenue product opportunities to complement our advertising business. These may include subscriptions and other approaches, and although our exploration is very early and we do not expect any revenue attributable to these opportunities in 2020, you may see tests or hear us talk more about them as our work progresses,” read the company’s Q2 2020 letter to shareholders.