Twitter’s Blue subscription: Elon Musk may have made tall claims about Twitter’s Blue subscription plan but the micro-blogging site is finding it difficult to retain its subscribers. As per the latest data, the Blue Tick seemed to interesting to subscribers in the initial stage but now they do not find it as useful as they did when they subscribed to the plan. As per a Mashable report, more than half of Twitter subscribers have cancelled their subscription. Twitter had 1,50,000 subscribers initially, but now, as of April 30, only 68, 157 subscribers have stuck around. This means that more than 80,000 users have cancelled their subscription.
As of the end of April, only 640,000 Twitter users had subscribed to Twitter Blue, which is a relatively low number considering the service has been available for almost six months, the Mashable report suggests.
But the most significant issue with Twitter Blue is the high churn rate among its earliest subscribers. Of the approximately 150,000 users who signed up for Twitter Blue within days of its launch in November, only 68,157 are still paying for the service as of April 30. This means that 81,843 users, or 54.5 per cent, have canceled their subscription.
The high churn rate of Twitter Blue is concerning because it is an abnormally high percentage for an online subscription service. The churn rate is the percentage of users that unsubscribe from a service, and according to a study by Recurly, the average overall annual churn rate is only 5.57 per cent for subscription-based businesses.
