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 users 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 acquisition that
closed in October.
He added that the company's cut from subscriptions on iOS
and 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 accounts 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 accounts prioritised.
After Twitter began removing blue ticks from the accounts of
several celebrities and famous personalities, only those account which paid for
the blue tick could be seen as verified. However, as multiple accounts have
started paying, the announcement from Musk will definitely motivate others to
join the bandwagon.
The blue tick served as a way of protecting well-known
individuals from impersonation and tackling false information. © Reuters
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