Social media platform, Twitter will let media publishers ask for a fee from users who wish to read their articles from May, 2023.
Twitter CEO Elon Musk announced the new initiative on Saturday. Musk said it is a “win-win” for the media organizations as well as the public.
Speaking on April 28, Musk explained, “Media publishers can charge users per article on Twitter, with just one click. Customers who do not want to sign up for a monthly subscription might pay a higher per-item price when they want to read an article on occasion.”
This comes as the social media behemoth seeks to commercialize website content in order to diversify its income streams. Musk also said that Twitter will be taking a 10% cut on content subscriptions after the first 12 months.
Musk announced earlier this month that users of the social networking site would be able to provide content subscriptions to their followers, including long-form text and hours-long video. Musk also stated that Twitter has decided not to take a cut on content subscriptions for the initial 12 months.
Musk has been making adjustments at Twitter to increase revenue after the platform’s advertising revenues dropped last year in the run-up to his $44 billion acquisition, which concluded in October. He also stated that the company’s cut from subscriptions on iOS and Android platforms will be reduced to 15% in the second year from 30% in the first.
In another move, NDTV and news agency ANI’s Twitter accounts were stopped on Saturday after their primary handles were closed, with no specific explanation given.
Smita Prakash, an ANI editor, tweeted an image of the news agency’s handle being locked, with a warning from Twitter indicating that the account “did not meet the age requirements” and will be terminated.