What’s next for Twitter?

Twitter

The well known social networking website, Twitter, has grown very large and popular, but it appears that its growth and popularity has stagnated. There are reports that show that Twitter is less popular among younger audiences (which are obviously crucial for its future) and its dwindling growth rate is reflecting that. If this continues and Twitter does not re-invent itself, they will likely not be around in 10 years or so.

Although it was intended to be used more as a personal social networking site, Twitter has become more of a business and promotion tool than anything else. Companies, celebrities and just about anyone that is working on something uses Twitter to remind everyone that they exist and keep them up to date with what they are working on. There is no problem with that at all; however, your average person will eventually get tired of it because it is becoming just another method of advertising. That doesn’t mean that it has to abandon it completely, but it does need to expand its use and relevance.

An article in the LA Times (click here to read it) recently, discusses a very interesting discovery that two Silicon Valley researchers found out about Twitter. They discovered that by using a special formula, they can actually predict how a new movie will perform in its theatrical debut. They claim that this formula is as high as 97.3% accurate which is much higher than any other method that is used.

If what these researchers are saying proves to be true, Twitter should acquire it from them and develop this in to a business model. They can make a lot of money on advertising and perhaps other methods as well and become a powerhouse in the field of movie prediction. However, this formula will only work if Twitter maintains some level of popularity, so they also need to make their service more attractive to younger audiences. To do this they can team up with celebrities and shows that are a hit with this demographic and perhaps make a spin-off of Twitter that is designed specifically for the younger demographic.

There are many other ideas that various people have suggested for Twitter’s future and some that haven’t been widely suggested as well. The Twitter platform is quite basic and so it opens itself up to many opportunities and many potential paths that it can take. It is becoming clearer with every day that passes though that Twitter will need to adopt some new strategy and re-invent itself in some way in order to remain viable and a household name for the future. It also needs to do this in the not too distant future because once they lose their users it will be very difficult and costly to regain them.