Elon Musk’s Twitter to chop 10% on content material subscription after 1 yr

Twitter Inc CEO Elon Musk mentioned on Friday that the social media platform will take a ten% minimize on content material subscriptions after the primary yr, as the corporate appears to monetize content material on the web site in a bid to diversify its income sources.

Musk has been bringing in modifications at Twitter to spice up income.(REUTERS)

Earlier this month, billionaire proprietor Musk mentioned customers of the social media platform will have the ability to supply their followers subscriptions to content material, together with long-form textual content and hours-long video.

He had additionally mentioned that the corporate is not going to take a minimize for the primary 12 months on content material subscriptions.

Musk has been bringing in modifications at Twitter to spice up income after the platform noticed promoting revenue drop final yr within the run as much as his $44 billion acquisition that closed in October.

He added that the corporate’s minimize from subscriptions on iOS and Android platforms will drop to fifteen% within the second yr from 30% within the first.

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