Elon Musk, CEO of Tesla, announced that creators on the social media platform can now monetize their content, adding to the increasing list of innovative implementations to improve Twitter’s profitability and promote citizen journalism.
Since Musk’s takeover of Twitter, the company has taken several radical steps to become profitable, including mass redundancies and the introduction of Twitter Blue subscriptions.
Musk viewed the request for a monthly fee to obtain a ‘Blue checkmark’ on Twitter as a much-needed revenue stream for the company, even though many previously verified users reacted negatively to the request.
The latest user-centric update, which enables users to monetize all types of tweets globally, aims to increase follower engagement and generate new revenue streams on the social media platform.
The ‘Subscriptions’ feature enables Twitter users to charge their followers a monthly fee “from one of the price points made available by Twitter.” Once paid, subscribers gain access to the creator’s exclusive, non-public content.
Twitter will allow creators to retain up to 97% of the revenue up to a lifetime earnings total of $50,000, after which the revenue divide will decrease to 80% for the creators.
The social media platform has partnered with the payment processor Stripe to pay Twitter creators.
However, revenue sharing will not commence until users reach a minimum threshold of $50.
The subscription services are non-refundable, regardless of the reason a creator’s Twitter account is suspended.
In such cases, users must manually unsubscribe to avoid monthly charges for inactive Twitter accounts.
Members of Crypto Twitter who have amassed credibility and a vast following on Twitter through years of posting enthusiastically embrace the introduction of content creator subscriptions.
Musk’s ongoing efforts to redesign Twitter will incorporate the use of artificial intelligence (AI) to detect and prevent the spread of misinformation on the social media platform.
Musk is rumored to have purchased nearly 10,000 graphics processing units (GPUs) for the development of forthcoming AI tools, despite warning the world against the development of AI due to societal concerns.
