A Twitter spokesman said the social network had "no comment" about the Delhi police visit to its offices
A Twitter spokesman said the social network had "no comment" about the Delhi police visit to its offices AFP / Olivier DOULIERY

Social media giant Twitter (TWTR) announced Thursday that it will offer a subscription service. The service, called Twitter Blue, is the first subscription service the platform has offered.

Twitter Blue will offer exclusive features to members for a monthly fee. With 86% of Twitter's revenue coming from advertisements, Twitter is hoping the new business model will diversify its revenue stream.

Twitter Blue will be offered to users in Canada for $3.49 and $4.49 in Australia. Twitter has not said when the service will become available in the U.S.

Some features Twitter Blue will include:

· Bookmark Folders so users can organize tweets they save.

· A Reader Mode that makes it easier to read long threads.

· The option to customize the Twitter app icons on their phones.

· Access to color themes for the Twitter app.

· Dedicated customer support.

Twitter, which launched in 2006, is looking to “gain a deeper understanding” of what its customers want and has sought to speed up product launches.

The company is aiming for 315 million monetizable daily active users by the end of 2023 and to double its annual revenue to $7.5 billion by the end of 2023, according to CNBC.

The San Francisco-based company has 330 million monthly active users, according to Statista.

As of Thursday at 12:39 p.m. ET, shares of Twitter were trading at $57.46, up $0.30, or 0.52%.