Elon Musk announces Twitter’s new revenue model: 10% cut on content subscriptions after 12 months
Twitter’s CEO, Elon Musk, has revealed that the platform will take a 10% cut on content subscriptions after the first year. This move is part of Twitter’s effort to diversify its revenue sources by monetizing content on the website. Earlier this month, Musk had announced that users could offer subscriptions to their followers for long-form text and hours-long videos and that the company would not take a cut for the first 12 months.
The move comes after Twitter saw a decline in advertising income last year in the run-up to Musk’s $44 billion acquisition, which closed in October. Furthermore, Musk also stated that Twitter’s cut from subscriptions on iOS and Android platforms would drop to 15% in the second year from 30% in the first. These changes are part of Musk’s efforts to boost revenue and revamp the social media platform.
