New features spread Twitter's wings
Twitter on Thursday announced a slew of new product updates, spanning everything from a creator fund to live audio improvements and even Bitcoin tips.
Why it matters: For years, Twitter made few changes to its product, instead relying mostly on ad innovations to grow its business. Now, it's adding new features faster than it ever has before.
Driving the news: The company, which earlier this year announced it would be doubling down on subscription products, debuted new ways for fans to interact with and pay their favorite tweeters directly.
- Tips: Twitter rolled out its new tipping feature to every user globally. It will also allow users to tip with Bitcoin via the payment app Strike.
- Creator fund: The company said it would launch a fund to pay live audio creators on its platform, although it declined to offer many specifics.
- Live audio: Twitter said it would allow recordings of live audio conversations and events held via its "Spaces" feature.
- Communities: Twitter noted it would begin testing its new Communities feature, which connects users with likeminded interests.
The bottom line: When Twitter was launched over a decade ago, the idea that people should be able to quickly connect with their favorite creators online was novel. Today, it's table stakes for any social network.