By Sahil Chopra
The social media circle is evolving at an exceptionally aggressive rate. Innovation is at the core of everything, and we are always on the verge of seeing a progressive change in how we interact.
Twitter has finally launched its most-awaited feature, “Super Follows,” announced in early 2021. The feature will give a set of privileges to users and allow them to access exclusive premium content. Super Follows is a unique way content creators can earn monthly revenue by sharing subscription-only content with subscribers on Twitter. With Super Follows in action, the social media landscape will witness a slew of upcoming changes in terms of subscription-based content. This will allow people to monetise content and give subscribers access to exclusive content and conversations from their favorite content creators. Twitter users will now be able to create deeper engagement with bonus tweets and more and sustain their followers while making money. Super Follows will welcome users who want to share their exciting viewpoints and characters to Twitter engage people in discussions across journalism, music, content curators, gaming, and more.
Following Twitter’s lead, Facebook is coming with Communities to create space for people sharing similar interests like gaming, food, blogs. Furthermore, communities will allow the users to create and join groups. In addition, social media platforms like YouTube, Github, and more have also launched their digital payment tool to support online subscriptions across platforms. Likewise, Instagram has also pulled up its socks and is developing a new feature like Twitter’s Super Follows. The new feature will allow content creators to create exclusive stories that will only be available for subscribers. Nonetheless, we are yet to hear more from the organisation on the forthcoming membership model.
In the coming months, social media platforms will develop new ways to monetise content and generate revenue from the audience. This is more likely to happen via video content since short-form video content has picked the pace like anything and garners more reach than any other format. Therefore, video marketing will be crucial in driving social media monetisation as video content is the best way to engage your audience. Video marketing to date remains the highly consumed digital format and gets more views and engagement comparatively across platforms.
It has been seen that the tweets, when clubbed with videos, receive 10X more engagement. LinkedIn users share 20x more videos than any other type of content. Video content has always been the most effective form of content in driving sales, and Pinterest users are 2.6% more likely to buy something after watching a video. With Super Follows and similar features being launched by different social media apps, we will see exclusive video content.
Content creators who have built their user base can leverage this opportunity the most since their audience knows that their content is worth paying. Live streaming on social media networks has become easier than ever, and social media platforms may introduce subscription-based access to live streams. With OTT platforms like Netflix and Prime video charging for accessing their shows, social media platforms may also adopt a similar approach to monetise videos and allow content creators to generate revenue.
Monetising video content is like blog monetisation. With social media coming up with new subscription-based features, content creators will be able to create exclusive content for their subscribers and generate revenue.
The author is founder and CEO, iCubesWire
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