Elon Musk’s Twitter to chop 10% on content material subscription after 1 12 months

Twitter Inc CEO Elon Musk stated on Friday that the social media platform will take a ten% minimize on content material subscriptions after the primary 12 months, as the corporate seems to be to monetize content material on the web site in a bid to diversify its income sources.

Earlier this month, billionaire proprietor Musk stated customers of the social media platform will be capable of provide their followers subscriptions to content material, together with long-form textual content and hours-long video.

He had additionally stated 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 12 months 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 12 months from 30% within the first.