Image source: NPR
Elon Musk, the CEO of micro blogging site twitter has recently informed via a tweet that media organizations will be able to charge users on a per article basis instead of users buying a subscription of the platforms. In a move that he has claimed as a ‘win-win’ for both users and media organizations, the CEO has said that it will allow media companies to generate more revenues and users to access any particular article without paying for a subscription.
While information regarding commission cut, eligibility criteria and other important details are yet to be released by the platform it is expected to prove to be a democratic move which will allow users to access articles without paying unnecessary huge subscription fees.
Musk has announced that the platform will not take any commission cut in the 1st 12 months of subscription but may charge a fee of 10% from then onwards after an individual meets a certain criteria.
Since the billionaire acquired the micro-blogging site in 2022 for a whopping sum of 44 billion$, he has been pushing to increase the revenue of the platform initially by charging for the blue tick option and now by subscriptions of individual accounts to access long threads, videos and images.
Image source: Marca
Earlier this month, Elon Musk had said that the platform will allow individual creators to charge public monthly subscription fees for exclusive threads, images, videos and exclusive audio spaces among other benefits. Elon himself in a tweet via a screenshot had displayed that he has 27000 subscribers and earns near to 80 lakhs per month.
The micro blogging site founded in 2006 had reported decreasing revenues after Elon took over as its CEO in 2022 reportedly due to advertisers leaving the platform. Though the majority of advertisers that had left the platform have joined it again but to protect the platform against these vulnerabilities it is generating other revenue streams.
In furtherance of this, all the blue ticks given to individuals and companies were made subscription based only, by charging an 8 dollars fee for a month. The blue tick service which was introduced in 2009 to distinguish genuine accounts was done away with by introduction of this new system.
About twitter
Twitter is a California based company founded in 2006 by Jack Dorsey, Noah Glass, Biz Smith and Evan Williams. It is a microblogging site which allows individuals to express their opinions in limited words in a single tweet and long information via the use of threads feature.
It was taken over by Elon Musk in the year 2022 by paying a sum of whopping 44 billion $.
