Twitter to take 10% cut on content subscriptions after 12 months (April 28)
Twitter to Take 10% Cut on Content Subscriptions
Twitter Inc CEO Elon Musk announced on Friday that the social media platform will take a 10% cut on content subscriptions after the first year. This move is part of the company’s efforts to diversify its revenue sources and monetize content on the website. Users of the platform will be able to offer their followers subscriptions to content, including long-form text and hours-long video. Musk has been bringing in changes at Twitter to boost revenue after the platform saw advertising income drop last year in the run-up to his $44 billion acquisition that closed in October.
- The cut taken by iOS and Android platforms on subscriptions will drop to 15% in the second year from 30% in the first.
- Correction: The cut taken on subscriptions is by iOS and Android platforms, not Twitter.
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