Billionaire Elon Musk will allow Twitter users to charge for access to their content.
Twitter is allowing users to charge for access to their content, “from long-form text to hours-long video,” owner Elon Musk said in a post on the site Thursday.
Musk said that for the first 12 months, Twitter won’t keep any of the money users make from subscriptions. That means users will keep about 70 per cent of their subscription revenue on mobile, after accounting for the fees Apple and Google take on their app stores, he said. Musk didn’t elaborate on the technical aspects of the plan.
The changes may help woo more content creators onto the platform, or keep them from leaving. Although Twitter will not take a cut of users’ subscription revenue for the first 12 months, it could be a move to generate more cash in the future. Twitter this week ceased to be an independent company after merging with a newly formed shell firm called X Corp, driving speculation about what Elon Musk intends for the social media platform.
Twitter “no longer exists” after being merged with X Corp, said an April 4 document submitted in a California court for a lawsuit filed against the company and its former chief executive officer, Jack Dorsey, last year by conservative activist Laura Loomer.. The billionaire owner has in the past suggested that buying Twitter would be an “accelerant” for creating X — which he dubbed an “everything app”. Musk tweeted about the move on Tuesday with the single character “X”.
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