After testing the option with select users in recent months, Twitter today announced that it is opening up Ticketed Space to more users, offering another way for creators to profit from their efforts on the platform.
As explained by Twitter:
“We want to help people create attractive spaces to earn $$$. Today, some hosts will be able to create seats with tickets! For now, we’re just trying out iOS, but we hope to make it available to everyone soon. I know it will take a while, but we want to do the right thing for you! Okay, this probably makes more contextual sense like a tweet, where the weird grammar doesn’t seem all that out of place.
Well, it still does a little bit, but the point is that some users can now create ticketed spaces, which is another consideration for broadcasters to take into account in their strategic calculations. Ticketed Spaces provides an additional way to monetize creators on the platform, which is a key element in Twitter’s broader strategy to drive usage and attract more users.
In February, during the Analyst Day overview session, Twitter executives outlined their plan to reach 315 million active users monetized on the platform over the next three years, which is 109 million additional assets above what you currently have…
This is particularly ambitious considering that Twitter has added just 83 million mDAUs in the last three years, and this spans the period when former US President Donald Trump used Twitter as his preferred means of communication and is regularly updated publicly through tweets. If Twitter failed to maximize its usage during Trump’s presidency, what chance does it have now, and what momentum will people need to download the app fast enough to significantly increase its usage?
Twitter will have to wait for them to understand, as CEO Jack Dorsey is under a lot of pressure to improve the bottom line, and if he can’t bring the platform to that magic 315 mDAU or subsequent revenue goals, it will likely be his last I scream, and he will no longer remain the CEO of Square and Twitter at the same time. Which can lead to more application changes and an entirely new approach to the platform. It’s still early days and, as noted, Twitter is on the right track based on current numbers. But it will be interesting to see whether your monetization options remain and which eventually become more important elements of the platform.