Elon Musk, the CEO of Twitter and a Tesla enthusiast, has announced that Twitter will be launching a new “one-click” service next month. This service will allow users to pay for articles individually, avoiding the need for media subscriptions. Musk believes that this new service will be beneficial for both media organizations and the public. Media companies will be able to charge a higher per-article price to readers who would not subscribe to the full service, while users will be able to access articles they are interested in without committing to a full subscription.
Musk did not reveal what percentage of the revenue Twitter would retain or what conditions publishers would need to meet. However, he is eager to implement this new service as Twitter is facing tough competition from other social media platforms. The company is actively seeking new revenue streams to pay off debt and increase its value, which is less than half of what Musk paid for it.
Musk Urges Creators to Monetize Their Content with Twitter Subscriptions
In addition to the pay-per-article service, Musk is also urging creators worldwide to monetize their content with Twitter Subscriptions. This service, previously known as Super Follows, allows creators to charge for exclusive content. Musk has promised that Twitter will not take a cut of the revenue generated by creators for the first 12 months.
Twitter is facing significant challenges, including declining user engagement and the departure of advertisers since Musk’s takeover. The company has introduced a new fee structure for API access, which could cost some enterprises up to $42,000 per month.
In conclusion, Twitter’s new pay-per-article service is a significant development for media organizations and users alike. By introducing this service, Twitter hopes to increase revenue and attract more users to the platform. While the success of this new service remains to be seen, Musk’s urgency suggests that it will be a top priority for Twitter in the coming months.