Elon Musk, the owner of Twitter, announced on Thursday that users of the social media site would be able to sell their followers subscriptions to content, such as lengthy texts and protracted videos.
Users who provide the subscription—a feature they can access through the settings menu’s “Monetization” tab—will receive all of the money members pay, minus any fees that platforms like Android and iOS impose.
Twitter to let users offer content subscriptions in monetization push
https://t.co/GRx8bWIm2w— IndiaTodayTech (@IndiaTodayTech) April 14, 2023
For the first twelve months, Twitter won’t take a commission. In a tweet, Musk stated that “that’s 70% for subscriptions on iOS & Android (they charge 30%) and about 92% on the web (could be better, depending on payment processor).”
Musk also stated that Twitter will assist promote the authors’ work and optimize earnings. In a response to Reuters, Google refuted Musk’s assertion and stated that, as of 2022, the service cost for all subscriptions on Google Play had been reduced from 30% to 15%.
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To increase revenue at Twitter, Musk has implemented modifications after the social media platform’s advertising revenues fell in the year before his on-again, off-again acquisition, which was finalized in October. Since taking control, Musk has made several quick organizational and product adjustments.
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The company reduced its workforce by around 80% and launched a Twitter-verified blue tick as a premium service. According to Musk, the social media company was currently “roughly breaking even” in a Twitter Spaces interview on Wednesday.
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