Investing
Twitter to let users offer content subscriptions in monetization push
© Reuters. FILE PHOTO: Twitter logo and a photo of Elon Musk are displayed through magnifier in this illustration taken October 27, 2022. REUTERS/Dado Ruvic/Illustration
(Reuters) -Twitter-owner Elon Musk said on Thursday users of the social media platform will be able to offer their followers subscriptions to content, including long-form text and hours-long video.
Users offering the subscription, a feature they can access through the “Monetization” tab in settings, will get all the money subscribers pay apart from the charges platforms such as Android and iOS levy. Twitter will not take a cut for the first 12 months.
“That’s 70% for subscriptions on iOS & Android (they charge 30%) and ~92% on web (could be better, depending on payment processor),” Musk said in a tweet, adding Twitter will also help promote the creators’ work and maximize earnings.
Google (NASDAQ:) rejected Musk’s claim in an email to Reuters and said it had lowered the service fee for all subscriptions on Google Play to 15% from 30% in 2022.
Musk has been bringing in changes to boost revenue at Twitter after the social media platform saw advertising income drop last year in the run up to his on-again-off-again acquisition that closed in October.
Since taking over, Musk has swiftly moved through a number of product and organizational changes. The company rolled out Twitter-verified blue tick as a paid service and shrunk the employee-base by about 80%.
The social media firm was now “roughly breaking even”, Musk said in a Twitter Spaces interview on Wednesday.
Read the full article here
-
Side Hustles6 days ago
3 Steps You Can’t Miss When Growing Your Business
-
Make Money7 days ago
15 Jobs That Will Shrink the Fastest Over the Next Decade
-
Side Hustles7 days ago
How to Maximize Your Profits With This Annual 8-Step Checklist
-
Investing7 days ago
Netherlands stocks lower at close of trade; AEX down 0.80% By Investing.com
-
Side Hustles7 days ago
Want to Start a Business? Consider Buying One Instead — Here’s Why.
-
Passive Income7 days ago
Why Email Marketing Is Still Your Business’s Most Powerful Tool
-
Investing6 days ago
Germany stocks lower at close of trade; DAX down 0.65% By Investing.com
-
Investing6 days ago
How I Transformed My Business by Letting Go of Low-Value Tasks