Elon Musk announces new monetizing feature for Twitter

Elon Musk announces a new monetizing feature for Twitter where news publishers can charge users for shared articles on a per-click basis. The move is set to help the media publishers and content creators in a scenario where the recession has made way for layoffs in large corporations as well.

Elon Musk
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Elon Musk and Twitter monetization

The move from Elon Musk is speculated to be aimed at increasing the revenue of the micro-blogging platform and diversifying its revenue resources. Followed up by Twitter Blue, this new move is expected to earn massive revenues for Twitter, as forecasted by the senior management of Twitter along with its current owner. 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 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.

A turnaround of fortunes for Elon Musk?

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.

Creators have been given the freedom to offer monthly subscriptions in the $2.99, $4.99, or $9.99 bracket. Musk, in a tweet thread, informed that for the next 12 months, the creators will be making most of the money as Twitter will not charge anything.

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