Elon Musk, the CEO of Twitter, said on Saturday that users would be able to pay media publishers per story with just one click on the social media platform. He called this a victory for both the general public and media companies.
According to billionaire owner Musk, the option, which will launch in May, would allow users who do not "sign up for a monthly subscription to pay a higher per article price for when they want to read an occasional article," to do so.
In a statement on Friday, Musk noted that Twitter would not take a cut for the first year and that the firm will take a 10% cut on content subscriptions afterwards. These memberships include hours-long videos and long-form writing.
Musk has quickly implemented a number of organizational and product changes since assuming control of the social media company in October. The firm reduced its workforce by around 80% and launched Twitter-verified blue check as a premium service.
Musk has been implementing adjustments at Twitter to increase revenue after the social media site's advertising revenues fell last year as it prepared for his on-again, off-again purchase that ultimately concluded.
According to billionaire owner Musk, the option, which will launch in May, would allow users who do not "sign up for a monthly subscription to pay a higher per article price for when they want to read an occasional article," to do so.
In a statement on Friday, Musk noted that Twitter would not take a cut for the first year and that the firm will take a 10% cut on content subscriptions afterwards. These memberships include hours-long videos and long-form writing.
Musk has quickly implemented a number of organizational and product changes since assuming control of the social media company in October. The firm reduced its workforce by around 80% and launched Twitter-verified blue check as a premium service.
Musk has been implementing adjustments at Twitter to increase revenue after the social media site's advertising revenues fell last year as it prepared for his on-again, off-again purchase that ultimately concluded.
