Elon Musk’s Twitter to Take 10 Percent Cut on Content Subscriptions After 12 Months

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

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

He had additionally mentioned that the corporate won’t take a lower for the primary 12 months on content material subscriptions.

Musk has been bringing in adjustments at Twitter to spice up income after the platform noticed promoting earnings drop final 12 months within the run as much as his $44 billion acquisition that closed in October.

He added that the corporate’s lower from subscriptions on iOS and Android platforms will drop to fifteen% within the second 12 months from 30% within the first.

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(This story has not been edited by News18 workers and is printed from a syndicated news company feed)