Twitter representatives have previously confirmed that they are exploring a paid subscription model for some of the social network's features. Mobile app researcher Jane Manchun Wong spoke about some of the benefits of the future premium subscription for Twitter users.

According to a leak by Jane Manchun Wong, Twitter's premium subscription has been dubbed Twitter Blue, and it will cost $2.99 per month. Twitter Blue users will be able to cancel sending a tweet within 30 seconds as well as create collections of posts they like. Paid subscribers will be able to save and organize their favorite tweets in Collections so that they can find them more easily later. This is one of the most requested features for many Twitter users.

However, even with Twitter Blue, the social network will not allow its users to edit tweets, which many users have been waiting for for many years.

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Wong also writes that it is also possible that Twitter will combine the subscription with Scroll. Twitter recently acquired Scroll to expand its subscription plans. It can bundle Scroll subscriptions as part of Twitter Blue, thus allowing subscribers to read content from their favorite publishers without ads. Twitter may also use the acquisition of Revue to enable Twitter Blue subscribers to send newsletters to their followers.

Twitter's subscription service is still under development, and the company hasn't said a word about when it will launch it. Therefore, it is possible that the $2.99/month subscription price could change before the feature officially launches.

The subscription service will be important to Twitter as it will generate additional income. Twitter has not been able to grow at the same pace as Facebook, Instagram, and other social media platforms, despite having played an important role in many key events over the past decade, so it is now looking to expand its revenue streams by offering a subscription service to its existing users.