For most people, their experience with paid social media services mostly has to do with some of the premium features of LinkedIn. Most parts of the social media industry such as Facebook, Instagram, and Snapchat are providing free services, except if a user wants to buy ads. This scenario is common across mainstream social media platforms. However, certain off-beat social media platforms like the Onlyfans app are exclusively based on a subscription model.
Catching up with the trend set by the Onlyfans app and due to its monetary benefits, several Onlyfans clone apps have entered the subscription-based social media market. They are all in it to capitalize on the large monetary inflow it provides. Surprisingly or not, a few mainstream social media platforms such as Twitter and Medium are also integrating subscription-based offerings on their platforms. This gives a glimpse of the future of subscription-based social media platforms. Before we look into the future of subscription-based social media platforms, here is a closer look into Twitter and Medium’s paid offerings.
Twitter’s Subscription Model:
The social media giant is still experimenting with its subscription-based offerings. Although it is in a nascent stage it is definitely coming together. Twitter will be taking its subscription-based offerings to power users like celebrities, popular brands, business organizations, and even marketing agencies. For a monthly premium of $19.99, the users will have exclusive benefits of early access to new features, upgrades, and premium user analytics in order to increase their traction.
Medium’s Subscription Model:
Medium is also doing its part to venture into the subscription-based model. Unlike Twitter, Medium charges a monthly premium of $5 for which the users get exclusive access to gated content from more popular authors on its platform. Just like any other subscription-based social media platforms, Medium offers regular content to the average users and targets the power users with premium content from the best authors.
· Single-Media Storytelling Platforms:
In the past, only multi-media storytelling social media platforms like the Onlyfans app were capitalizing on the subscription-based social media model. However, with Twitter and Medium joining the bandwagon, more single-media storytelling social media platforms are likely to venture into this profitable social media model. It also looks like a strategic move to revive the dying social media platforms that are dependent on the single-media storytelling model.
· Mainstream Social Media Platforms:
Till now only off-beat social media platforms like Onlyfans app and Onlyfans clone apps had ventured into the subscription-based model. This made subscription-based social media platforms somewhat a rare commodity. However, the advent of Twitter and Medium has changed the game of the subscription-based social media platforms as it will pave the path for several mainstream social media platforms as well to venture into this model.
· Varied Content:
Since various social media platforms including some of the mainstream ones are aiming to venture into the subscription-based social media platform, there will be stiff competition in this sector. In order to beat the competition, these social media platforms, both off-beat and mainstream, will push their content game and provide varied content offerings. In addition, the two sections of content i.e., regular and premium will also push them to get creative in their content offerings.
· Customizable Subscription Model:
By venturing into the subscription-based social media sector, it is easy for all social media platforms to have similar subscription models. However, a dogmatic subscription model would not be an ideal model since it would not be preferred by the users. Users like to have the leverage to customize their subscription based on their personal preferences, hence all the players venturing into the subscription-based social media sector will aim at offering a highly customizable subscription model.
Following the trend of Twitter and Medium, more and more social media platforms might begin to experiment with the subscription-based model. Monetizing the existing social media platform is a great business idea and everybody would like to do it sooner or later. Who knows? We might even witness Facebook and Instagram provide subscription-based premium content and services just like the Onlyfans app.
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