Elon Musk announced on Thursday that Twitter users will be able to offer their followers subscriptions of any material, from longform text to hours long video, as part of the company’s latest move to monetize the platform.
Musk said users who offer the subscription will receive all the money subscribers pay, except for charging platforms such as Android and iOS commission. Twitter will not cut for the first 12 months. The new feature will be available through the Monetization tab in settings.
For the next 12 months, Twitter will keep none of the money.— Elon Musk (@elonmusk) April 13, 2023
You will receive whatever money we receive, so that’s 70% for subscriptions on iOS & Android (they charge 30%) and ~92% on web (could be better, depending on payment processor).
After first year, iOS & Android fees…
“That’s 70% for subscriptions on iOS & Android (they charge 30%) and ~92% on web (could be better, depending on payment processor),” Musk said. Musk also mentioned that Twitter will help promote the creators’ work and increase earnings.
Since taking control, Musk has made a number of quick organizational and product adjustments. The company reduced its workforce by around 80% and launched Twitter Blue as a premium service. The company was now “roughly breaking even” and advertisers are returning to the platform, Elon Musk said in a Twitter Spaces interview on Wednesday.
Since his takeover in late October, Twitter had experienced a sharp decline in advertising. In January, The Information reported that over 500 advertisers have stopped spending on the social media platform.
Insider Intelligence this week reduced its prediction for Twitter’s global ad revenue this year by 37% to $2.98 billion. That would be a 28% decrease from Twitter’s projected $4.14 billion in ad revenue for 2022.