Twitter is working on a new subscription platform codenamed Gryphon
Shares of Twitter jumped more than 8% in morning trading Wednesday after the company posted a job listing saying it was building a subscription platform under the code name “Gryphon.”
Twitter is working on a new subscription platform under the codename Gryphon, according to two online job postings.
Twitter is working on a subscription platform for its social networking service. A new job listing reveals that Twitter has a new internal team, named "Griffon", which is "building a subscription platform." Twitter is currently recruiting engineers to join this membership team, with employees working closely with the company's paid team.
The company has given little information about the new platform, although it has said it will work with its payments and Twitter.com teams.
The job posting would be "a first" for the company for a potential Twitter subscription, but it is not clear exactly how Twitter plans to implement the subscription service. Twitter currently generates the majority of its revenue through ad sales and data licenses, and a subscription service could potentially provide exclusive content in exchange for a monthly fee.
“We are building a membership platform, which can be reused by other teams in the future. This is the first time for Twitter! Griffon is a team of web engineers working closely with the Payments team and the Twitter.com team.
“We are building a membership platform, which can be reused by other teams in the future. This is the first time for Twitter! Griffon is a team of web engineers working closely with the Payments team and the Twitter.com team.
Twitter has previously investigated membership as a payment service for electricity users. The company ran a survey a few years ago to assess whether Twitter users would pay for information about new analytics, breaking news alerts, or tweets about followers of an account.
Twitter may also be considering a Twitch- or Patreon-style type of subscription, where you could subscribe to individual accounts in some way. We’ve reached out to Twitter to comment on its subscription plans, and we’ll update you accordingly.
A second position for senior full-stack software engineer, listed on Twitter’s career portal, also mentions a new subscription platform that can “be reused by other teams” in the future. Aside from that, not a great deal is known about Twitter’s plans, however we do know that it is a close collaboration between Gryphon, witter.com, and its payments team. The successful hire will “lead the payment and subscription client work,” according to the listing.
This news will undoubtedly lead to significant discussion about what Twitter is cooking up, including speculation that it is developing a premium version that removes ads and does not affect some of the customization available on the free product. In fact, membership can open up a whole new world of products and applications that take advantage of Twitter's vast reach and data interchange, or it helps position Twitter as a viable business for creators and influencers Can do. In fact, Twitter can build something similar to Patreon.
Twitter has previously explored paid subscriptions for TweetDeck, though this previous endeavor seemingly went nowhere beyond carrying out surveys to see what people would be willing to pay for.
This time, Twitter is appearing more serious to make its consumer products. Failing to hit Facebook's jackal heights with its user numbers and revenue, membership could offer new ways for it to increase both engagement, loyalty, and - importantly - its bottom line.
VentureBeat has reached out to Twitter to clarify what the new subscription platform is, and will update here when we hear back.
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