The website has a ways to go if it wants the subscription service to be a major source of revenue.
Elon Musk may have to think of a lot more ways to make Twitter Blue appealing to potential subscribers if he wants the subscription service to be a major source of revenue. According to The Information, only 180,000 people in the US have been paying for a Twitter subscription by mid-January, and that’s apparently around 0.2 percent of the website’s monthly active users. The publication said it saw the information on a document, which also revealed that 62 percent of the company’s paying users reside in the US. That means Twitter has approximately 290,000 subscribers worldwide.
As The Information notes, Musk told Twitter employees last year that he wants half of the website’s revenue to come from subscriptions. Since the company has to pay over $1 billion a year in interests alone from the loans Musk took out when he purchased the website, the executive is aiming to take in a revenue of $3 billion for 2023. Twitter has to have quite a lot of subscribers to earn half of that from Blue.