Elon Musk made an announcement on Thursday regarding the rebranding of the “Super Follows” feature, which will now be known as “Subscriptions.” This new feature will enable users to subscribe to exclusive content.
In a tweet, Musk revealed that users will have the ability to charge their followers for access to long-form text, long-form videos, and subscriber-only Spaces. As an additional perk, subscribers will receive special badges as a recognition of their support.
Notably, Musk himself has his own “Subscriptions” feature, where users can subscribe to him for a monthly fee of $4, as indicated in his profile. Subscribers to Musk’s content will have the opportunity to participate in “ask-me-anything” sessions with him periodically, adding an interactive element to the exclusive content.
For the next 12 months, Twitter will keep none of the money.— Elon Musk (@elonmusk) April 13, 2023
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…
With the introduction of the “Subscriptions” feature, Musk aims to provide a platform for content creators to monetize their content and establish a more direct connection with their followers. This move by Musk is part of a broader trend in social media towards subscription-based models, which allows content creators to offer unique content to their most dedicated followers in exchange for a subscription fee.
In summary, Elon Musk’s recent announcement about rebranding the “Super Follows” feature as “Subscriptions” is geared towards providing users with the option to subscribe to exclusive content, including text, videos, and Spaces.
Musk himself has his own subscription service, offering interactive “ask-me-anything” sessions to his subscribers for a monthly fee. This move aligns with the growing trend of subscription-based models in social media, providing content creators with new opportunities to monetize their content and engage with their audience.
Elon Musk stated that the money users earn from the “Subscriptions” feature on Twitter, minus a 30% charge imposed by both Apple and Google on iOS and Android, will not be kept by Twitter for the next 12 months. However, Google has disputed Musk’s claim, stating that it has actually lowered the service fee for all subscriptions on Google Play from 30% to 15% last year, as confirmed by Reuters.
Musk’s statement implies that Twitter will not retain any of the revenue generated by users through the “Subscriptions” feature, with the exception of the 30% charge levied by Apple and Google on iOS and Android platforms. However, Google has contradicted this statement, asserting that it has halved the service fee for subscriptions on Google Play to 15% in the past year.
It’s important to note that service fees and charges associated with app store platforms, such as Apple’s App Store and Google Play, are subject to change and can vary depending on the specific agreements between the platform and the app or content creators. These fees are typically imposed by app store platforms for providing distribution, payment processing, and other services.
Twitter’s recent efforts to generate more revenue coincide with Elon Musk’s statement that the company is now “roughly breaking even,” as mentioned in a Twitter Spaces interview with BBC News correspondent James Clayton.
Since assuming control of the social media platform in October, Musk has introduced new features like Twitter Blue, which offers users a blue check mark in exchange for a monthly membership fee. Additionally, he has implemented cost-cutting measures, resulting in a reduction of the workforce by approximately 80%.
Requests for comment from Apple and Google made outside normal working hours have not been immediately addressed. Similarly, Twitter responded to a request for comment with an automated message that did not address the specific inquiry.
It’s important to note that these statements and actions by Twitter and Musk are subject to change and may be updated as new information becomes available.
In summary, Twitter’s efforts to boost revenue align with Elon Musk’s statement on the company’s financial performance. Musk has implemented new features and cost-cutting measures since taking over the platform, while requests for comment from Apple, Google, and Twitter have yet to receive a comprehensive response.
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