Roughly three months after its relaunch, Twitter Blue subscriptions have not been the enormously profitable pivot from ad-based revenue that Elon Musk had hoped for the social platform.
According to a report by TechCrunch, the "underwhelming" relaunch — featuring perks like an edit button and new "verified" badge, long seen as a status symbol for public figures, now available for purchase — has earned the social media platform just $11 million in mobile-based subscriptions since Musk brought it back in December.
A Twitter Blue subscription costs $8 per month if purchased through the website and $11 per month if purchased through an app for Android or iOS devices. The Information reported in January about 290,000 users worldwide were paying for Blue subscriptions across platforms, which would bring in an estimated $28 million in revenue this year.
Twitter's operating costs in Q2 2022 came to $730 million in total expenses, according to a report from Social Media Today, an industry news outlet.
The social platform has aimed to diversify its revenue streams since advertisers fled the platform in the wake of the billionaire's takeover last year. Revenue for the platform is down 40%, The Information reported, and 500 top advertisers have fled.
In an attempt to attract more users to Blue, subscribers may be able to toggle the visibility of their blue check marks, The Verge reported. Though the feature has not yet been rolled out, opting out of a visible checkmark can help users avoid pile-ons about "elite" verification status and memes about how "this mf paid for twitter" in the event a post they make goes viral.
The Outline reported being "verified" became a derogatory term on Twitter in the Trump era, synonymous with being a liberal elitist.
Musk did not immediately respond to Insider's request for comment. The Twitter press email responded to Insider's request for comment with a poop emoji.
