Twitter, one of the most popular microblogging sites, is set to introduce a subscription model for its app called Project Gryphon. The platform will begin testing the subscription model in the fourth quarter of 2020.
Twitter CEO Jack Dorsey said that due to the significant decline in the micro-blogging site's revenue generation, they plan to start testing a paid service on Twitter. Twitter's revenue fell by 23% due to the ongoing pandemic in the second quarter of 2020 from the second quarter of 2019.
It was also discovered that some job openings were open, telling candidates that they would be working on a subscription platform called Grython. The ad appeared about two weeks ago. It clearly indicated that the Gryphon team would be a group of web engineers who would work with Twitter’s payments team to design a subscription service.
Currently, Twitter is a completely free social media platform that makes money from advertising. Adding a subscription service to Twitter would greatly boost the platform's financial growth.
And in 2017, Twitter planned to launch a subscription service, but due to some restrictions, the platform failed to do so. However, it seems that now, the micro-blogging site is ready to start testing its subscription service project Gryphon.
In addition to that, Twitter suffered one of the most intense hacking attacks last week. The accounts of celebrities like Bill Gates, Barack Obama, Elon Musk, Kanye West, Michael Bloomberg, and Joe Biden were compromised. Twitter said the breach was carried out after “a coordinated social engineering attack” against its employees to gain access to the backend.
The incident even raised concerns with the FBI, which is investigating what exactly happened in the breach. The hackers managed to make a lot of money before the fraud was exposed.
