Twitter’s CEO Musk has been implementing changes to increase revenue after a decline in advertising income.
On Friday, Elon Musk, CEO of social media platform Twitter, announced that the company will shave 10% off of content subscriptions after the first year. This is part of Twitter’s plan to monetize content on the website and diversify its revenue streams.
This month, the social media platform’s billionaire owner Musk announced that users would soon be able to offer subscriptions to content, such as long-form text and hours-long video, to their followers.
He also promised that the company would not charge a fee for content subscriptions for the first year.
After advertising revenue on Twitter dropped last year ahead of Musk’s $44 billion (nearly Rs. 3,59,700 crore) acquisition, which closed in October, he has been making changes to increase revenue.
He also mentioned that after the first year, the company’s cut of iOS and Android subscriptions would decrease from 30% to 15%.
Musk recently made a major announcement concerning Twitter’s blue tick verified accounts. After taking over Twitter, Musk has made some changes, including emphasizing the importance of verified accounts.
Several well-known people’s blue verification ticks were removed by Twitter, leaving only the accounts of those who paid to have their accounts marked as verified. Nonetheless, Musk’s declaration will encourage others to join the bandwagon, as multiple accounts have already begun paying.
The blue tick was implemented to combat false information and prevent the impersonation of public figures.
