SAN FRANCISCO: Twitter on Tuesday said it is buying Scroll and its ad-free news app to bolster a coming subscription service, and channel money to journalism in the process.
The global one-to-many messaging platform did not disclose how much it is paying for Scroll, which owns the Nuzzel app.
“Scroll will become a meaningful addition to our subscriptions work as we build and shape a future subscription service on Twitter,” Twitter product manager Mike Park said in a blog post.
US-based Scroll confirmed the acquisition, apologising to users that it will go into a private beta mode as it is integrated into a Twitter subscription play later this year.
Wednesday, 05 May 2021 11:13 AM MYT
Twitter has been struggling to create ways to make money from its service without disrupting the real-time flow of posts that has been it defining characteristic. AFP pic
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SAN FRANCISCO, May 5 ― Twitter yesterday said it is buying Scroll and its ad-free news app to bolster a coming subscription service, and channel money to journalism in the process.
The global one-to-many messaging platform did not disclose how much it is paying for Scroll, which owns the Nuzzel app.
“Scroll will become a meaningful addition to our subscriptions work as we build and shape a future subscription service on Twitter,” Twitter product manager Mike Park said in a blog post.
News publishers get attention and money in the process. As a Twitter subscriber, picture getting access to premium features where you can easily read articles from your favorite news outlet, or a writer s newsletter from Revue, with a portion of your subscription going to the publishers and writers creating the content, Park said.
Twitter has been struggling to create ways to make money from its service without disrupting the real-time flow of posts that has been it defining characteristic.
Twitter last week reported weaker-than-expected earnings and disappointing user growth.
A key figure of average monetisable daily active users was below expectations at 199 million, an increase of 20 percent from a year ago.
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Eric has been writing about stocks and finance since the mid-1990s, when he lived in Prague, Czech Republic. Over the course of a varied career, he has also been a radio newscaster, an investment banker, and a bass player in a selection of rock and roll bands. A native New Yorker, he currently lives in Los Angeles.
Twitter (NYSE:TWTR) is about to make a new asset buy. Via its official company blog, Twitter announced Tuesday that it is acquiring Scroll, an early-stage company whose major product is an e-reading app.
In the post, written by the company s vice president of product Mike Park, Twitter did not disclose how much it is paying for Scroll.
Twitter Acquires Scroll To Bolster Its Planned Subscription Service forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.