Twitter's major shift in its product lines was hinted with the introduction of Twitter Fleets last year – a feature that resembles Snap, Instagram and Facebook stories. In recent months, Twitter has rolled out an audio chat service called Twitter Spaces;unveiled plans for a newsletter product, and announced a new feature called Super Follows, which will let people subscribe to special content.
All these new changes are somewhat revolutionary for Twitter, because for so long, Twitter has remained pretty much unchanged in the way they conducted their business. And now, it is moving forward in a rush.
Twitter CEO Jack Dorsey recently shared in an event that the reason Twitter was moving forward at this pace all of a sudden is because he believes Twitter has a few weaknesses that makes investors and analysts not trust the platform as much as it's other Silicon Valley counterparts. According to Jack, Twitter is slow and not innovative, and to reach his ambitious goal of expansion by the end of 2023, Twitter needs to change.
All these boils down to one burning question: what is Twitter going to look like in the near future? Analysts and experts believe – endorsed by Twitter spokespersons -- that 'tweets' will remain the heart of Twitter. But the platform wants to attract new users, new generation of users even and it has to head-to-head with its young competitors like TikTok, Snapchat and Clubhouse in order to do that.
Currently, Twitter has 192 million daily active users. The platform falls behind Snapchat -- with 265 million daily active users -- and is threatened by the quick rise of TikTok and very recently, Clubhouse which have around 50 million and 10 million daily active US users, respectively.
Jack Dorsey shared that over the next three years, Twitter wants to increase its number of daily users to at least 315 million and in order to do that, there's no other way but to innovate and reinvent its product line.
It's safe to assume that starting now, Twitter will only keep moving forward at this pace as Twitter's Head of Consumer Product, Kayvon Beykpour recently shared with The Verge, "People should look out for us to keep moving quickly, keep trying things."