Elon Musk has unveiled ways for content creators to monetize on Twitter @elonmusk
Tesla CEO Elon Musk has announced that Twitter creators can now monetize their content, adding to the list of radical implementations aimed at improving Twitter's revenue and promoting citizen journalism. Under Musk's leadership, Twitter has taken several measures to become a profitable business, including mass layoffs and the introduction of Twitter Blue subscriptions. Despite resistance from previously verified individuals, Musk saw the monthly fee for a blue checkmark on Twitter as a much-needed revenue stream for the company.
The latest revamp is a user-centric approach aimed at improving follower engagement and creating new revenue streams on the social media platform. The "Subscriptions" feature allows users to charge followers a monthly fee, giving them exclusive access to the creator's content, which is unavailable to the public. Twitter will allow creators to keep 97% of the revenue up to $50,000 in lifetime earnings, after which the revenue split will drop to 80%.
Stripe, a payments processor, has partnered with Twitter to payout creators. However, revenue sharing will only begin once users earn a minimum threshold of $50. The subscription services are non-refundable, even if a creator's Twitter account gets suspended for any reason. In such cases, users are required to manually unsubscribe to avoid auto-monthly payments to inactive Twitter accounts.
Members of Crypto Twitter, who have gained credibility and a massive following on Twitter, welcome the introduction of content creator subscriptions. Meanwhile, Musk has reportedly purchased nearly 10,000 graphics processing units to build upcoming AI tools despite warning against AI development due to societal concerns.