It's time to rethink twitter and launch another service. Readers want to see the content they select, in the order they select, from people/posters they find interesting. Have conversations and maybe connect with people they follow. Posters want to control their feed and who sees it, control the conversation a bit more, perhaps pay for better tools to curate replies, get rid of spam/trolls etc, have their complaints…
No no no, the content producers are the ones doing the work and the readers should be funding the platform somehow. And possibly the creators too. I'd like a "Reddit gold"-like system. (I know I wouldn't pay to post because I have lurked on metafilter for most of its life but never paid the $5 to post)
Make the posters pay and you'll lose your content.
Without advertising, that means the service cannot make a profit.
Maybe that's the solution to the puzzle.