Elon Musk says the platform won’t take a cut for 12 months as Twitter launches subscriptions for user content.
Elon Musk, the owner of Twitter, announced on Thursday that users of the social media site would be able to sell their followers subscriptions to content, such as lengthy texts and protracted videos.
Users who provide the subscription—a feature they can access through the settings menu’s “Monetization” tab—will receive all of the money members pay, minus any fees that platforms like Android and iOS impose. For the first twelve months, Twitter won’t take a commission.
Musk stated in a tweet that “that’s 70% for subscriptions on iOS & Android (they charge 30%) and 92% on web (could be better, depending on payment processor)” Twitter will also aid in promoting the artists’ work and maximizing earnings, Musk added.
Elon Musk, the owner of Twitter, announced on Thursday that users of the social media site would be able to sell their followers subscriptions to content, such as lengthy texts and protracted videos.
Users who provide the subscription—a feature they can access through the settings menu’s “Monetization” tab—will receive all of the money members pay, minus any fees that platforms like Android and iOS impose. For the first twelve months, Twitter won’t take a commission.
Musk stated in a tweet that “that’s 70% for subscriptions on iOS & Android (they charge 30%) and 92% on web (could be better, depending on payment processor)” Twitter will also aid in promoting the artists’ work and maximizing earnings, Mtusk added.
According to Musk, the social media company was currently “roughly breaking even” in a Twitter Spaces interview on Wednesday.
According to a person familiar with an email Musk wrote to Twitter colleagues, Elon Musk has offered the social media company’s employees stock awards valued at close to $20 billion,the Information reported last month.
The reported valuation indicates a decline in Twitter’s value as it is less than half of the $44 billion that Musk paid to purchase the social media site.
A request for comment from Reuters through email did not receive a prompt response from Twitter.
