Twitter to Take 10 Percent Cut on Content Subscriptions After 12 Months 5m2h16 Technology News

Twitter CEO Musk has been bringing in changes at Twitter to boost revenue after the platform saw advertising income drop last year. 395o5y

By Reuters | Updated: 29 April 2023 11:59 IST

Twitter to Take 10 Percent Cut on Content Subscriptions After 12 Months

Twitter will not take a cut for the first 12 months on content subscriptions 6p2s5u

Highlights

Twitter s can offer their followers subscriptions to content
Advertising income drop last year in the run up to his acquisition
Twitter looks to monetize content on the website

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Twitter CEO Elon Musk said on Friday that the social media platform will take a 10 percent cut on content subscriptions after the first year, as the company looks to monetize content on the website in a bid to diversify its revenue sources.

Earlier this month, billionaire owner Musk said s of the social media platform will be able to offer their followers subscriptions to content, including long-form text and hours-long video.

He had also said that the company will not take a cut for the first 12 months on content subscriptions.

Musk has been bringing in changes at Twitter to boost revenue after the platform saw advertising income drop last year in the run up to his $44 billion (nearly Rs. 3,59,700 crore) acquisition that closed in October.

He added that the company's cut from subscriptions on Android platforms will drop to 15 percent in the second year from 30 percent in the first.

A few days back, Musk also has made an important announcement regarding the blue tick verified s on Twitter. In a series of updates that Musk has introduced to Twitter after his takeover, he has also added a pointer to his updates about getting verified s prioritised.

After Twitter began removing blue ticks from the s of several celebrities and famous personalities, only those which paid for the blue tick could be seen as verified. However, as multiple s have started paying, the announcement from Musk will definitely motivate others to the bandwagon.

The blue tick served as a way of protecting well-known individuals from impersonation and tackling false information.

© Thomson Reuters 2023

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