Twitter revealed a new “super follow” feature that will enable account holders to charge for exclusive additional content.
This could take the form of extra tweets, joining a community group or receiving a newsletter, the firm said.
Twitter unveiled plans at a virtual event for its investors.
This is the first time that the platform has announced such significant changes to the way in which people can use the platform.
The company also said it was testing a live audio discussion service so that it can take on audio-only social network Clubhouse.
“Why don’t we start with why folks don’t believe in us,” said Twitter founder Jack Dorsey.
“It comes down to three critiques: we’re slow, we’re not innovative, and we’re not trusted.”
Twitter, American microblogging and social networking service launched in 2006 and recorded its first annual profit in 2018. The company hopes to double its revenue in 2023.
“Twitter is unquestionably looking for ways to drive new revenue streams with this new service,” said analyst Ben Wood from CCS Insight.
“For those with compelling enough content this service could be attractive but I expect it will be hard to deliver big paydays for the average Twitter user.”
The news has received a mixed reaction. Social media consultant Matt Navarra asked his followers whether they would be prepared to pay a premium for their favourite accounts in which 85% respondents said they would not.
The company said Super Follow would be launched this year.