Elon Musk Is Allowing Users To Make Money Off Their Twitter Accounts, here’s How:- Twitter is now offering a feature that enables users to monetize their content by charging for access, according to a recent announcement by owner Elon Musk on Thursday. This new feature extends beyond longform text and includes hours-long video content as well.
Musk further explained that, during the initial 12-month period, Twitter will not retain any portion of the revenue generated by users through subscriptions.
This means that, after accounting for app store fees, users will be able to keep at least 70% of their subscription earnings on mobile platforms. However, Musk did not provide additional details regarding the technical implementation of this plan.
Apply to offer your followers subscriptions of any material, from longform text to hours long video!— Elon Musk (@elonmusk) April 13, 2023
Just tap on “Monetization” in settings.
In an effort to enable users to monetize their Twitter accounts, Musk is directly competing with Substack, a company known for its newsletter services, by offering similar money-making options.
At the same time, Substack is seemingly taking inspiration from Twitter, as it recently introduced a Notes feature that allows users to publicly post content. However, Twitter temporarily disabled likes, replies, and retweets for tweets containing Substack links earlier this week.
The modifications to Twitter’s subscription model are aimed at attracting and retaining content creators on the platform. While Twitter will not deduct any percentage of users’ subscription revenue for the initial 12-month period, it could potentially be a strategy to generate revenue in the future.
Twitter, a subsidiary of X Corp., has faced challenges in monetizing its platform in recent times. The advertising revenue, which used to contribute to over 80% of Twitter’s earnings, has plummeted by 50% since Musk assumed ownership.
In an attempt to boost revenue, Twitter has introduced a premium version called Twitter Blue, but the adoption rate has been low, with only approximately 1% of monthly users opting to subscribe.
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