Tesla CEO Elon Musk revealed that content creators on the social media network can now monetize Twitter by sharing content on the platform with exclusive subscriber, adding to the increasing list of innovative initiatives to boost Twitter’s revenue and advance citizen journalism. The news was particularly exciting for popular content creators such as the Crypto Twitter team, who have years of posting.
Musk’s new changes to Twitter
Since Musk took control of Twitter, the company has made a number of drastic changes to become a profitable enterprise, including the introduction of Twitter Blue subscriptions and mass layoffs. While many people who had already verified their accounts opposed the suggestion that there be a monthly fee to obtain a blue checkmark on Twitter, Musk saw it as a vital source of income for the organization. The most recent user-centric redesign, which enables users to monetize all types of postings on Twitter globally, aims to increase follower engagement and develop new sources of income for the social media site. According to the CEO, AI will check the contents to “detect & highlight manipulation of public opinion on this platform.”
Twitter’s payment terms
Users of Twitter’s “Subscriptions” function can charge their followers a monthly fee “from one of the price points made available by Twitter. Once the followers pay the fee, they gain access to the creator’s private content, which is not available to the general public. It should be noted that even if a content provider’s account is suspended for any reason, the subscribers’ fees are non-refundable. Followers have to unsubscribe from the suspended accounts to prevent automatic monthly payments. Twitter has already partnered with Stripe payment processor company to supervise the payments.
Twitter only takes 3% of the content creators’ earnings and allows them to earn as much as $50,000 in a lifetime. After reaching the above amount, Twitter will take 20% of the content creators’ earnings. However, the revenue share won’t start until users reach the $50 minimum earning threshold.
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