Musk has now allowed Twitter users to offer their followers subscriptions to their own content.
👉 Background: Elon Musk has been exploring a range of monetisation strategies for Twitter since he took over. The big issue? Ad revenue has been down 50% since he first took over. So, He launched Twitter Blue, the subscription service.
👉 What happened: First, he launched Twitter Blue, the subscription service. And now, Musk has said that users of Twitter will be able to offer their followers subscriptions to their own content. Think: long-form text and hours-long video.
👉 What else: For the first 12 months, the creators will get 100% of the revenue, except for Apple and Google’s payment fees. The goal is to help woo more content creators onto the platform, or keep them from leaving.
💡The attention economy has ad-based revenue as a central part of its business model. Whereas, the creator economy gives users a platform to provide content for others... And get paid for it.
💡Every piece of content on the internet can be monetised, and every creator of that content can making money off it in the creator economy. At least 500 million tweets are sent on a daily basis, which means there are plenty of insightful conversations that might be worth paying for.
💡Twitter is hoping these changes will incentivise creators to invest more heavily on their Twitter content as a way to make money. And in 12 months time, Twitter will be taking its own little slice of this revenue.
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