Elon Musk to find new source of revenue for Twitter
Elon Musk has made significant changes to the popular social media platform Twitter since buying the company last week.
After removing top executives from the company, Musk is now focusing on revenue from the platform.
As Twitter’s new CEO, Musk shared his intention to make the social media platform less reliant on advertising for revenue.
In particular, he is thinking of Twitter’s premium service, Twitter Blue.
Twitter Blue is currently available in four countries for $4.99 monthly.
According to Musk, he plans to increase the price to $8.
The most significant change, however, is that Twitter Blue will have a blue tick next to the user’s handle.
The blue checkmark is often seen on verified profiles, most of which belong to organizations, athletes, celebrities and internet celebrities.
Elon Musk’s plan serves to answer claims that the service would cost $20.
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Tesla’s founder and CEO revealed his monetary plan in tweets.
Elon Musk talked about the current system, describing it as “bull****.”
He plans to offer the verification service to users who are willing to spend money every month.
The subscription service prioritizes interactions, comments and mentions for payers.
It also doubles as a method to combat spam.
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Benefits of the service
Users who pay for the service can post longer videos and audio.
Additionally, Elon Musk says the change will see half of the ads that other users see.
Meanwhile, publishers who want to work with the social media platform will get a paywall bypass.
Another key feature that users who pay for Twitter Blue get is the ability to edit their own tweets finally.
For now, it is only enabled for Blue users.
However, according to Casey Newton of Platform, it will soon be free for everyone.
The arrival of the new update is a question of if and when, and upon arrival, users can write a secondary tag.
Secondary tags are currently exclusive to high-profile politicians.
Musk to increase Twitter Blue subscription to $8, verified checkmarks will be secondary