Elon Musk's Vision for Twitter: Boosting Revenue and Empowering Users.

Elon Musk announced a way for Twitter users to make money and in turn, make money for the social media network.

In a bold move to boost revenue and monetize content, Twitter has announced that it will allow users to offer subscriptions to their followers. According to Twitter owner Elon Musk, this new feature will allow users to offer long-form text and hours-long video content to their subscribers. The subscription feature can be accessed through the "Monetization" tab in settings, and users will receive all the money subscribers pay, except for the charges imposed by Android and iOS.

Twitter Lets Users Monetize Content with Subscription Feature in Latest Update.

Musk also revealed that Twitter will not take a cut for the first 12 months. He tweeted that users will receive 70% for subscriptions on iOS and Android, as they charge 30%, while web users will receive approximately 92%, depending on the payment processor. Additionally, Twitter will help promote the creators' work and maximize earnings.

However, Google has rejected Musk's claim, stating that it has lowered the service fee for all subscriptions on Google Play to 15% from 30% in 2022.

Can User-Generated Content Subscriptions Save the Platform?

Musk has been implementing changes to increase Twitter's revenue, following a decline in advertising income last year in the lead-up to his acquisition of the social media platform, which closed in October. Since taking over, Musk has initiated a number of product and organizational changes, including rolling out a Twitter-verified blue tick as a paid service and reducing the employee base by approximately 80%.

According to Musk, the social media firm is now "roughly breaking even," as he revealed in a Twitter Spaces interview on Wednesday. With this new subscription feature, it remains to be seen whether Twitter can increase revenue and profitability in the long run.

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Gbolahan Isama MS.