Elon Musk has announced the introduction of a monetization system on Twitter, marking a significant shift in the social media giant’s revenue strategy. For the first year, Twitter will not impose any fees on content creators, allowing authors to retain 70% of their earnings on iOS and Android, considering platform commissions, and more than 90% on the web, depending on the payment method.
However, following this initial year, a fee structure will be implemented. On iOS and Android, Twitter will collect a 15% commission, with additional charges applied based on the payment’s magnitude. Curiously, Elon Musk’s tweet unveiled seemingly inconsistent figures, particularly since Android platforms already levy a 15% commission, as verified by a Google spokesperson for Engadget. This discrepancy raises questions about the finer details of Twitter’s payment model.
Content creators on Twitter will have the option to set subscription fees at $2.99, $4.99, or $9.99 per month, granting access to exclusive content. This content could encompass special Twitter Spaces chats for subscribers only, and distinctive badges for paid subscribers. Additionally, Twitter’s help page indicates that they are exploring the incorporation of newsletters and other Twitter features as potential bonus content.
Notably, the once-termed “Super Follows,” introduced in 2021, has been rebranded as “Subscriptions.” Prior to this transformation, and even before Elon Musk’s involvement with the company, this feature did not gain significant traction. The unveiling of new features for content creators is expected to invigorate this aspect of Twitter’s ecosystem.
Furthermore, the expansion of character limits in tweets is set to facilitate content creation. Initially available to Twitter Blue subscribers in the US, the character limit was raised to 4,000 characters in February. Now, Twitter has further expanded it to 10,000 characters for paid users, along with the introduction of text formatting options like bold and italicize, exclusively for paid subscribers.
Elon Musk’s influence on Twitter’s strategic evolution is unmistakable, and as the platform undergoes these transformative changes, the landscape of social media monetization is poised for a significant shakeup. Twitter’s ambitions to empower content creators while enhancing the user experience are taking shape with these innovative features and revised revenue structures.
