The social media firm is quickly developing a new subscription -based business model around premium content and newsletters.
Twitter is expanding its subscription strategy with the presence of New York start-up Scroll.
Scroll partner news sites to offer their ad-free content to users for a $ 5 per month subscription. Some of the partner sites include The Atlantic, The Verge and many US newspaper headlines.
Scrolling is similar to a type of ad-blocker but with a revenue model for publishers. Serves customers on versions of publisher websites without ads. A cut of their monthly subscription fee will go to those sites.
It’s not entirely clear how exactly scrolling will be included in Twitter but it fits in with upcoming subscription services.
It appears that the single Scrolling service is integrated. With this deal, it no longer accepts new sign ups and Nuzzel, a separate feature from the startup that sends curated emails to users, is shutting down.
“We want to rethink what [Scroll has] built to deliver a seamless reading experience to our highly engaged audiences and allow publishers to deliver cleaner content that can make more money than today’s business models, ”Mike Park, vice-president of product at Twitter, said.
“To do this, we plan to include Scroll as part of an upcoming subscription offer that we are currently exploring,” Park said.
No financial terms for the acquisition have been announced. The startup has raised $ 10m from several large media and publishing companies including the New York Times, Axel Springer and Gannett.
The acquisition came hot on the heels of Expanding Twitter Spaces, its live audio sharing platform. It also comes just months after it acquired Revue, a newsletter startup that competes with the likes of Substack, and podcast app Breaker.
The company is betting subscription services and paid content to reduce its reliance on advertising revenue by providing premium features.