Elon Musk, the billionaire entrepreneur and CEO of Tesla, is making waves once again with his latest announcement of Twitter Monetization, that creators on Twitter can now monetize their content. This latest user-centric revamp of the social media platform is aimed at improving follower engagement and creating new revenue streams for content creators.
Drastic Measures to Improve Twitter’s Bottom Line
Ever since Musk’s takeover of Twitter, the company has taken several drastic measures to turn itself into a profitable business. This includes mass layoffs and the introduction of Twitter Blue subscriptions. While many previously-verified individuals have retaliated against the monthly fee required to get a ‘Blue checkmark’ on Twitter, Musk saw it as a much-needed revenue stream for the company.
The latest user-centric revamp now allows users to monetize all forms of posts on Twitter globally. Twitter Monetization will allow users to monetize their content.
The ‘Subscriptions’ feature enables Twitter users to charge followers a monthly price “from one of the price points made available by Twitter.” Once paid, subscribers gain access to the creator’s exclusive content that is unviewable in public.
Revenue Share and Partnership with Stripe
Twitter will allow creators to keep up to 97% of the revenue until they earn $50,000 in lifetime earnings. After which the revenue split will be dropped to 80% for the creators. The social media platform has partnered with payments processor Stripe to payout creators on Twitter. However, the revenue share will only begin after the user earns the minimum threshold of $50. Users must manually unsubscribe from the subscription services to avoid auto-monthly payments to inactive Twitter accounts. As the services are non-refundable, Twitter can suspend a creator’s account for any reason.
AI to Detect and Deter Misinformation on Twitter
Musk’s ongoing initiatives to redesign Twitter will also see the use of artificial intelligence (AI). This can help detect and deter misinformation on the social media platform.
Musk reportedly purchased nearly 10,000 graphics processing units (GPUs) to build the upcoming AI tools. Even though he warned the world against AI development due to societal concerns.
Potential Impact on Twitter’s Revenue and User Base
The introduction of content creator subscriptions on Twitter is a significant move for the social media platform. It aims to provide more opportunities for content creators to earn money and increase their follower engagement.
Twitter’s expected revenue will increase as more creators begin to monetize their content. This can lead to more active users and improved engagement. The implementation of AI tools to detect and deter misinformation will also help Twitter to maintain a more trustworthy platform for its users.
Elon Musk’s latest announcement about monetizing
In conclusion, Elon Musk’s latest announcement about monetizing content on Twitter is a game-changer for content creators on the social media platform. The ‘Subscriptions’ feature allows creators to earn revenue from their exclusive content, providing them with new opportunities to monetize their online presence. More creators monetizing their content is expected to have a positive impact on Twitter’s revenue and user engagement.