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Facebook and Twitter should introduce ‘Premium Account’

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Facebook and Twitter should introduce ‘Premium Account’

A section of users of Facebook and Twitter are already expecting these tech-giants to introduce ‘Premium Accounts’ against monthly fees, similarly to that of LinkedIn and a few other social media.

According to mid-2020 statistics, with over 2.7 billion monthly active users, Facebook is the biggest network worldwide. Active users are those who have logged into Facebook during the last 30 days. During the last reported quarter, the company states that 3.14 billion people were using at least one of the company’s core products, such as Facebook, WhatsApp, Instagram, or Messenger each month.

Founded in 2004, Facebook is currently the biggest social networking service based on global reach and total active users.

Launched by Harvard student Mark Zuckerberg and some of his contemporaries, the service was initially only available to Harvard students but soon expanded to regional universities, the Ivy League and further colleges before opening up to high school students and global users aged 13 or over. As of July 2020, India ranks first in terms of Facebook user base size.

There are over 310 million Facebook users in India alone, making it the leading country in terms of Facebook audience size. To put this into context, if India’s Facebook audience were a country then it would be ranked fourth in terms of the largest population worldwide. Apart from India, there are several other markets with more than 100 million Facebook users each: The United States, Indonesia, and Brazil with 190 million, 140 million, and 130 million Facebook users respectively.

As of July 2020, most Facebook users access the social platform almost exclusively via mobile devices. The availability of Facebook on mobile has enabled the company to lay an early claim to mobile-first online markets such as India. Facebook also publishes apps based on original Facebook features such as Facebook Messenger. The wide range of Facebook-related apps ensures that the company is one of the most popular app publishers worldwide based on downloads.

Until now, the only source of income for Facebook is through advertisement revenue.

According to the latest statistics, Twitter has 145 million daily active users.

The ratio of male to female Twitter users is roughly one to two: 34 percent female and 66 percent male.

Twitter though has users from around the world, it is more popular in the US and the rest of the western countries in particular as according to statistics – more than 20 percent of all US internet users access Twitter at least once a month.

Undoubtedly, Facebook enjoys bigger popularity in the world because of several options, which are liked by its users.

In my opinion, these tech giants can now introduce ‘Premium Accounts’ against monthly fees to its users with enhanced features and benefits, including:

Verification of the account;

Larger quota of friends [for Facebook users];

Hacking protection;

Spam protector;

Free boosting of 1-3 posts per month.

Introduction of paid accounts will contribute in significantly increasing the revenue for Facebook and Twitter.

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Hanzalah Choudhury is a student of Engineering at the Chinese University of Hong Kong (CUHK).

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