Twitter monetisation: Elon Musk to charge 10% for content subscription after one year
1 min read 01 May 2023, 04:40 PM ISTElon Musk has been implementing modifications on Twitter to enhance its earnings, as the platform observed a decline in advertising revenue last year before he acquired it for $44 billion in October
PremiumIn a bid to diversify its revenue resources, Twitter CEO Elon Musk announced that the social media platform will start charging a 10% cut on content subscriptions after the first year. The development came after the changes in Twitter content policies which allowed users to offer their followers subscriptions to content.
The user will be able to offer a subscription for both long-form text and hours-long videos. Elon Musk said that the company will not charge any cut for the first 12 months, but after the stipulated period, a 10% cut will be charged on the content subscriptions.
Elon Musk also mentioned that the percentage of revenue taken by iOS and Android platforms from subscriptions will reduce to 15% in the second year, which is half of the 30% cut they take in the first year.
Elon Musk has been implementing modifications on Twitter to enhance its earnings, as the platform observed a decline in advertising revenue last year before he acquired it for $44 billion in October. The way Elon Musk handled things at Twitter after the takeover was criticized by many including Jack Dorsey, the co-founder of the social media platform.
“No. Nor do I think he acted right after realizing his timing was bad. Nor do I think the board should have forced the sale," Jack Dorsey said.
Since Elon Musk assumed control of Twitter in late October, the company underwent significant changes such as a large reduction in its workforce, and faced various public challenges, including the controversy surrounding its user verification system. Musk has proposed a new paid subscription model for Twitter, where users can pay $8 per month to obtain a blue checkmark on their profile.
(With agency inputs)
