Twitter CEO Elon Musk is allowing users to charge for accessing their content “from long-form text to hours-long video.” Read to know more.
How can creators make money off their Twitter accounts?
Elon Musk on Thursday revealed that Twitter will not keep any money from what users make from subscriptions. “That means users will keep at least 70% of their subscription revenue on mobile, after accounting for app store fees,” he added. However, he did not elaborate on the technical details. “You will receive whatever money we receive, so that’s 70% for subscriptions on iOS & Android (they charge 30%) and ~92% on the web (could be better, depending on the payment processor),” he tweeted.
Musk is currently in trying to make it possible for people to earn from their Twitter accounts. He is going head-to-head with Substack. (canadianpharmacy365.net) Substack is a newsletter company with similar earning methods. On the other hand, Substack is becoming more similar to Twitter. The site launched a “notes” feature allowing users to post to their public feeds. Additionally, Twitter temporarily disabled replies, likes, and retweets for tweets featuring a Substack link.
More on the new monetization feature
Musk is expecting these changes will help in wooing more content creators. While Twitter is not taking a cut from the subscription revenue in the first year, it could generate more cash down the line. The subsidiary of X Corp. has been struggling with efforts related to monetizing the platform. Advertising, which previously accounted for over 80 percent of the revenue declined by over 50 percent since Musk took over. Twitter is also hoping to increase its revenue through Twitter Blue. Unfortunately, only one percent of its monthly users have signed up.
