Social media platform Tumblr has announced the launch of Tumblr Tips, a new monetization feature that will let bloggers on the site receive one-time payments from other users.
Tipping will be available on the web, Android, and iOS versions of the platform. Users will now be able to tip their favorite bloggers up to $100 and will be provided the option to leave an accompanying note. In addition, Tumblr has said it will take a percentage of all payments, but will not apply standard credit card fees.
According to the company, Tumblr Tips isn't intended to complement the brand's other monetization feature called Post+, which enabled users to charge monthly fees for access to their exclusive content. However. Tumblr users have already voiced that they prefer the new tip-based system to that of Post+.
Tip-Based Blogger Features
Tumblr Tips Lets Users Send One-Off Payments to Their Favorite Creators
Trend Themes
1. Social Media Tipping - Social media platforms can introduce tipping features to help creators monetize their content and build stronger relationships with their audience.
2. Tipping Vs Subscription-based Monetization - Offering different monetization options, such as tipping and subscription-based models, can help social media platforms appeal to a wider range of creators and users.
3. No Credit Card Fees - Social media platforms can attract more creators by eliminating or reducing credit card fees for transactions made through their monetization features.
Industry Implications
1. Social Media - Social media platforms can explore new ways of monetization, such as tipping features, to incentivize creators and increase user engagement.
2. Online Content Creation - The introduction of new monetization options for online content creators can provide new opportunities for individual and small business success.
3. Payment Processing - Payment processing companies can create specialized services and partnerships with social media platforms to help facilitate the growing trend of social media tipping and other monetization features.