The social media platform has implemented several radical measures to turn a profit, including mass layoffs and introducing Twitter Blue subscriptions. While some previously-verified individuals were unhappy about the monthly fee to get a ‘Blue checkmark,’ Musk saw it as a necessary revenue stream for the company.
Twitter has recently introduced a new feature called 'Subscriptions' that enables creators to monetize their content by charging their followers a monthly fee to access exclusive content. The platform's goal is to boost follower engagement and offer users more opportunities to generate revenue.
Creators can keep up to 97% of the revenue until they reach a minimum threshold of $50,000 in lifetime earnings, after which the revenue split drops to 80%. Twitter has partnered with payments processor Stripe to payout the creators. However, the subscription services are non-refundable, and creators must earn a minimum threshold of $50 before they can begin earning revenue. If a creator's account is suspended for any reason, the subscription service is also non-refundable, and users must unsubscribe manually to avoid auto-monthly payments to inactive accounts.
Elon Musk's Twitter revamp doesn't stop at monetization features. The billionaire CEO has also set his sights on tackling the persistent problem of misinformation on the platform. Musk's solution? The use of artificial intelligence (AI). While he has expressed concerns about AI development and its impact on society, Musk reportedly purchased almost 10,000 graphics processing units (GPUs) to build the upcoming AI tools for Twitter. The move is a bold step towards improving the platform's credibility and promoting factual information dissemination.
The introduction of content creator subscriptions has been welcomed by members of Crypto Twitter, who have garnered credibility and a massive following on Twitter over the years. With Twitter's new revenue-sharing model, creators can monetize all forms of posts globally, making the platform even more attractive for content creators.
Overall, Twitter's latest update is a win-win for both creators and users. Creators can earn money by sharing exclusive content, and users get access to even more valuable content. With Musk's ambitious plans for the platform, Twitter's future looks bright.
