On Friday, Twitter CEO Elon Musk announced that the platform will charge a 10 percent fee on content subscriptions after the first year to diversify its revenue sources. Earlier, Musk had stated that users could offer content subscriptions to their followers, without the platform taking a cut for the initial 12 months. This move comes after Twitter saw a decline in advertising income, prompting Musk to make changes to increase revenue.
In addition, the company’s cut from subscriptions on iOS and Android platforms will decrease to 15 percent in the second year from 30 percent in the first. Musk has also made updates to the blue tick verified accounts on Twitter, prioritizing their verification process, which will likely encourage more accounts to pay for the blue tick. The blue tick helps protect well-known individuals from impersonation and misinformation.
