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Twitter, Inc‘s TWTR plan to roll out an edit feature initially to Twitter Blue subscribers in the coming weeks has caught the attention of noted analyst and Loup Ventures Managing Partner Gene Munster.
What Happened: To use the edit feature, at least in the near term, a user may have to have a Twitter Blue subscription, which currently costs about $4.99 a month following a steep upward adjustment from an earlier $2.99 per month.
Twitter’s subscription offering just got more “compelling” with the edit button, Loup Funds’ Gene Munster said in a tweet.
Munster’s Thesis: This feature would appeal to about 5-10% of the 240 million daily active users, he estimates. The venture capitalist expects this to add about $75 million to $150 million in revenue, increasing revenue by 1.5%-3% in 2023.
“Taking a step back: I was hoping it would’ve added more,” Munster said.
See also: Elon Musk Reacts To Former CIA Security Expert’s Twitter Bots Estimate: ‘…This Deal Is Awesome’
Twitter is currently locked in a legal battle with Tesla Inc TSLA CEO Elon Musk after he wriggled out from a $44 billion take-private deal.
Incidentally, ahead of making an offer for Twitter, Musk ran a poll asking his followers whether they wanted an edit button. About three-fourths of the respondents replied in the affirmative.
Price Action: Twitter closed Thursday down 0.34% at $38.62, according to Benzinga Pro data.
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Image and article originally from www.benzinga.com. Read the original article here.