Twitter teases “Super Follow” feature, eyes to double revenue by 2023

After locking horns with the government, Twitter Inc is planning to launch new features and products to counter its rivals in the market and also looking to double annual revenue to reach at least 315 million users by 2023.

"We know we've been slow," Chief Executive Jack Dorsey said in an investor day presentation. "When you compare us with our peers, it's been especially stark.

Estimating an annual revenue of at least $7.5 billion by the end of 2023, the social media giant said that a new feature will be launched this year which will allow users to charge their followers for access to additional content.

Twitter is also working on ways and tricks for people to have more conversations on the platform. For example, hosting live audio discussions using its 'Spaces' feature, which is being tested with about 1,000 users, and letting people share longer-form content using Revue, a newsletter publishing service Twitter acquired last month.

As the company eyes a goal of at least 315 million monetizable daily active users (mDAU), it is also looking to allow "communities" to be created for particular interests.