Twitter Users Will Be Allowed To Offer Paid Content Subscriptions

On Thursday Elon Musk said that users of the social media platform, Twitter will be able to offer their followers paid content subscriptions which would include long-form text and hours-long video, as per Reuters.

Users offering the subscription, will have a feature they can access under "Monetization" tab in settings. It will get all the money subscribers pay apart from the charges platforms such as Android and iOS levy. Initially for a period of 12 months Twitter will not take a cut.

"That's 70% for subscriptions on iOS & Android (they charge 30%) and roughly 92% on web (could be better, depending on payment processor)," Elon said in a tweet, and further added that Twitter will be helpful to promote the creators' work and maximize earnings.

Through an email to Reuters Google refuted Elon's claim and said that it had lowered the service fee for all subscriptions on Google Play to 15% from 30% in 2022.

Ever since Elon has taken over Twitter, he has been swiflty implementing changes to a number of products and in organization. The company rolled out Twitter-verified blue tick as a paid service and shrunk the employee-base by about 80%.

In order to boost Twitter's revenue, Elon has been bringing in chnages after the social media platform saw advertising income drop last year in the run up to his on-again-off-again acquisition that closed in October.

In a Twitter Spaces interview on Wednesday, Elon said, that the social media firm was now "roughly breaking even".