Fintech & Ecommerce

Twitter Launches Subscriptions Feature So Users Can Monetize Content

Twitter users have been allowed to apply for monetization of the materials they post on this platform.

Twitter Launches Subscriptions Feature So Users Can Monetize Content

Source: Pixabay.com

Elon Musk last Thursday, April 13, announced a new subscription offer on the social network and said that users can select Monetization in the settings and apply to offer other people using Twitter a subscription to large text materials and videos.

Elon Musk said that users will receive as much money as the social network will receive, which is 70% for a subscription to iOS and Android and about 92% for the Internet. He also said that after the first year, the fees for iOS and Android will decrease to 15%, and the company will add a small amount beyond that.

The new feature will allow Twitter users to earn money by giving their subscribers access to bonus content and badges that simplify the process of chatting and connecting to the Internet.

Over time, additional features will be added to the social network to help create and share content.

The subscription offer is launched for a small group of people, Twitter users are invited to check their compliance with the requirements on the Subscription page. The current requirements for candidates include at least 18 years of age, 25 publications in the last 30 days, and 500 subscribers.

Elon Musk stated that the company’s goal is to maximize the prosperity of content creators. About two weeks ago, the media reported that the owner of Twitter is trying to make this platform a part of the financial life of users. If a favorable prospect is realized, the value of the company may significantly increase. Currently, the social network is worth $ 20 billion. If the positive forecast comes true, this figure will grow to $ 250 billion.

Since Elon Musk took over the company in October 2022, there have been several product and organizational changes. It was decided to reduce 80% of employees. The company’s advertising revenue decreased by 40%. Elon Musk said that Twitter is currently suffering significant losses. The paid Twitter Blue subscription, the introduction of which was considered the creation of the main source of income, did not justify itself from a financial point of view, since it was issued by only 1% of users.

As we have reported earlier, Twitter to Enable Crypto Trading via eToro.

 

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.