Twitter to take 10 percent cut on content subscriptions, says Elon Musk

Elon Musk said users of the social media platform will be able to offer their followers subscriptions to content, including long-form text and hours-long video.

Published By: Shweta Ganjoo | Published: Apr 29, 2023, 01:00 PM (IST)

Highlights

  • Twitter will charge content subscription fee from the content creators.
  • Twitter will take a 10 percent cut on content subscriptions.
  • This content subscription charge will be applicable after the first year.

Twitter Inc CEO Elon Musk said on Friday that the social media platform will take a 10 percent cut on content subscriptions after the first year, as the company looks to monetize content on the website in a bid to diversify its revenue sources. Also Read: Elon Musk introduces Grok 4.5 in private beta: xAI's latest AI could rival Claude Opus

Earlier this month, billionaire owner Musk said users of the social media platform will be able to offer their followers subscriptions to content, including long-form text and hours-long video. Also Read: Elon Musk’s SpaceX loses over $600 billion in just 3 Days after record IPO: Here’s what happened

He had also said that the company will not take a cut for the first 12 months on content subscriptions. Also Read: What is Cursor? The AI coding tool SpaceX is spending $60 billion on

Musk has been bringing in changes at Twitter to boost revenue after the platform saw advertising income drop last year in the run up to his $44 billion acquisition that closed in October.

He added that the company's cut from subscriptions on iOS and Android platforms will drop to 15 percent in the second year from 30 percent in the first.

-- Reuters

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