SAN FRANCISCO: Twitter users will now be able to offer their followers content subscriptions, including long-form text and hours-long video, the social media platform’s owner Elon Musk said on Thursday.
Users offering the subscription, a feature that can be assessed through the “Monetization” tab in settings, will recieve all the amount paid by the subscribers apart from the charges levied by platforms such as Android and iOS. Twitter will not take a cut for the first one year.
“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 the platform will also help promote the creators’ work and maximize earnings.
For the next 12 months, Twitter will keep none of the money.
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…
— Elon Musk (@elonmusk) April 13, 2023
Reuters reported that Google, in an email to the agency, rejected Musk’s claim and said it had lowered the service fee for all subscriptions on Google Play to 15% from 30% last year.
Musk has introduced a number of changes to boost Twitter’s revenue after the social media platform’s advertising income dropped last year in the run up to his acquisition of the firm that closed in October.
Since Musk’s takeover, Twitter has gone through multiple product and organisational changes. The company launched Twitter-verified blue tick as a paid service and reduced the employee-base by about 80%.
In a Twitter Spaces interview on Wednesday, Musk remarked the company was now “roughly breaking even”.
