In a controversial new move, Elon Musk, the owner of Twitter, announced Thursday that users of the social networking platform will be able to offer their followers content that includes long texts and videos of up to hours in exchange for financial subscriptions.
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
No money for Twitter for a year
Users who enjoy this feature, which they can activate through settings, will get all the money paid by subscribers except for the fees deducted by Android and iOS systems. Twitter will not receive a percentage of the revenue for the first 12 months.
“This is 70 percent for subscriptions on iOS and Android (they get 30 percent) and 92 percent for surfing (might be better, depending on payment medium),” Musk said in a tweet.
Promote the work of creators
He also added that Twitter will also help promote the work of creators and boost profits.
Google, for its part, rejected Musk’s claim in an email to Reuters in which it said it had lowered service fees for all subscriptions on Google Play to 15 percent, down from 30 percent, in 2022.
Modifications to make money
Musk made adjustments to the company to increase revenues after the social media platform saw a decline in advertising income last year in the run-up to the acquisition in October.
Since Musk took over the company, he has quickly made a number of changes to the organization and products. The company introduced the blue check mark as a paid service and cut staff by about 80 percent.