Twitter is going the way of subscriptions in 2021 — after buying Revue, the company today snapped up Scroll for an undisclosed amount. The acquisition is a smart move — it allows Twitter to play to its strengths — media and media distribution. 

Scroll is a prix fixe media buffet –for $5 a month, readers can view articles, ad-free, from about 300 odd media outlets. The $5 a month subscription is then shared with the publishers. Good idea, but as Scroll founder Tony Haile points out in his blog post announcing the deal, “we’re not moving fast enough.” 

A lot has to do with the media industry and its bureaucratic disfunction. The fact remains that destination viewing of media is becoming a habit only reserved for a fading generation of readers. Discovery, distribution, and consumption of media have taken on a different meaning. And believe it or not — Twitter is smack in the middle of this Venn diagram. 

Twitter, just by incorporating Scroll, can increase its footprint and impact on the media business.

Last year, I wrote a piece — What Twitter could learn from Spotify. In my piece, I outlined a strategy that would help Twitter reinvent itself but also help provide a vital lifeline for not only establishment media but also independent creators. But in doing so, I reasoned that 

Twitter has to be “willing to rethink its entire core application, jettison the past,” and only then can it “create a more relevant, robust, and financially rewarding future.” (I don’t want to repeat myself, so you are better off reading the earlier piece at your leisure.

With Spaces, Revue, and now Scroll, Twitter has started to think different — though if it will be enough for the company to regain its mojo, remains to be seen. It seems the newest recruit, Scroll CEO Tony Haile, does see the bigger picture.

“When you see Spaces, Revue or Scroll, you see Twitter focused on expanding, not encroaching on the value it helps others to create,” he writes on the Scroll blog. “Twitter is marching to the beat of a different drum and knows success will come from a bigger pie not a larger slice.”

In his post announcing the deal, he points out what makes Twitter unique compared to every other big platform — read Facebook. 

“For every other platform, journalism is dispensable. If journalism were to disappear tomorrow their business would carry on much as before,” Haile writes. “Twitter is the only large platform whose success is deeply intertwined with a sustainable journalism ecosystem.” 

And he is right — it is not just journalism in the classic sense. Journalism, as we have known, is changing. Twitter can’t fall into the trap of the media’s past and almost always lean into the future. Whether it is live conversations, podcasts, video streams, photos, newsletters, everything that is media can benefit from Twitter’s taking a cue from that other content company, Spotify. 


PS: Being very self-referential today, I dug up this little piece from 2012:

Over the past few years we have started to see the transformation of media by new technologies, new methods of distribution and newer ways to consume information I have always believed that we’ve got to stop thinking of media as what it was and focus on more of what it could be. In the world of plenty, the only currency is attention and attention is what defines “media.” Zynga is fighting Hollywood for attention (and winning). Instagram is taking moments away from other media. They have attention. There are old companies that are dying and new ones that are being invented. 

Journalism Problem #1

Jill Abramson, former editor of The New York Times:

“From four years of teaching at Harvard, so many of my students are interested in journalism, but they mostly want to write first-person, highly personal narratives about themselves. That may reflect their age. But I think there’s too much of that in journalism. It’s not about us. It’s about the world, and covering the world.”

This has been my biggest gripe with the media establishment. Everything is about them, not about the news.

Read article on The Daily Beast

Vincent Laforet

Photographer and film director Vincent Laforet has worked for The New York Times, Vanity Fair, National Geographic and more, and in 2002 he won a Pulitzer Prize for Feature Photography for his coverage of post-9/11 events in Afghanistan and Pakistan. Vincent lives in New York and Los Angeles, where he directs commercials for brands like … Continue reading Vincent Laforet