Twitter unveils subscription offering called "Twitter Blue"

Twitter is rolling out the first iteration of its new subscription offering, "Twitter Blue," in Australia and Canada, the tech giant said Thursday. The subscription will cost users in Canada $2.88 monthly and users in Australia $3.44.

Why it matters: Twitter said in February that it's rolling out subscription products to help double its revenue by 2023.

Details: The new "Twitter Blue" subscription offering will include several new features and perks, designed based on feedback from Twitter users about what they want most. The initial set of new features include:

1. Bookmark Folders: These folders let users manage content and organize content so it's easy to find later.
2. Undo Tweet: This long-awaited feature lets users review and revise Tweets before they goes live. Users can set a customizable timer of up to 30 seconds to click "undo" before a Tweet, reply, or thread actually posts. This allows users to correct mistakes, like typos or broken tags, before they go live.
3. Reader Mode: This feature makes it easier for users to consumer long Tweet threads by turning them into easy-to-read text.
4. Customized app: Subscribers will be able to customize the Twitter app icon on their smartphone home screens and unlock new color themes. They will also have access to dedicated subscription customer support.

The big picture: Twitter's core product will remain free so that users around the world can access the app seamlessly. The subscription offering is catered to hyper-engaged users, likely those who use the app daily or professionally.

Go deeper: Twitter debuts subscription products to help double revenue by 2023