Twitter Announces User Subscription Feature
Elon Musk, the owner of Twitter, has announced that the platform will allow users to subscribe to their content, including long-form text and videos. This feature, accessible via the “Monetization” tab in preferences, enables users to earn all of the money their subscribers pay, excluding platform-specific fees such as Android and iOS. Twitter will waive its own fees for the first year, allowing creators to earn up to 92% on the web and 70% on Android and iOS after deducting platform fees. In addition, Twitter will assist creators in promoting their work to maximise earnings.
Google denies Twitter’s claim
Elon Musk stated that Twitter’s new feature would offer better rates than Google, but the search engine giant denied this, stating that it had reduced its service charge for all Google Play subscriptions from 30% to 15% in 2022. Twitter’s subscription feature, which does not take a commission on revenue, may prove to be more lucrative for creators.
Elon Musk’s Initiatives to Increase Twitter’s Revenue
Twitter has experienced a decline in advertising revenue, prompting Musk to make adjustments to increase the platform’s revenue. Since acquiring Twitter, he has made a number of product and organisational adjustments, including an 80% reduction in the number of employees and the introduction of a paid Twitter-verified blue tick service. According to Musk in a Twitter Spaces interview, despite this, the social media company is still profitable.
The Future of Twitter’s Revenue Drive
Twitter’s subscription feature provides content creators with an additional monetization opportunity, allowing them to earn money directly from their audience. The platform is likely to see an increase in the number of creators utilising this feature, which could ultimately result in more users enlisting to access exclusive content. The subscription feature has the potential to increase Twitter’s revenue and maintain its competitiveness with respect to other social media platforms.
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Yustika Kusuma Putri, she is social media marketer from Indonesia. I currently work as a Media Manager in Technologie Omicrom Sendas inc.
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