Elon Musk’s X set to introduce premium subscriptions soon.
Elon Musk Announces New Premium Subscriptions for Social Media Platform X
By Supantha Mukherjee and Gursimrankaur Mehar
10:37 AM UTC – October 20, 2023
Elon Musk, the owner of social media platform X, formerly known as Twitter, has announced the upcoming launch of two new tiers of premium subscriptions.
“One is a lower-cost option that includes all features but still includes ads, while the other is a more expensive option that is completely ad-free,” Musk revealed in a post on X.
Two new tiers of X Premium subscriptions launching soon.
One is lower cost with all features, but no reduction in ads, and the other is more expensive, but has no ads.
— Elon Musk (@elonmusk) October 20, 2023
Musk, who took over the platform in October 2022, has been implementing strategies to increase revenue by charging users and attracting advertisers. Advertisers had previously stopped buying ads after Musk made significant changes to the platform, including firing employees and disbanding content moderation teams.
Musk has acknowledged that these actions have impacted the platform’s revenue and has blamed activists for pressuring advertisers.
While Musk did not provide specific details about the subscription plans, a recent test case by X indicated that non-subscribers may face certain restrictions on the platform.
X conducted a test in New Zealand and the Philippines, charging new users $1 to access the platform. Non-subscribers were limited to “read only” actions, such as reading posts, watching videos, and following accounts, according to the company’s website.
The introduction of the “Not A Bot” subscription method aims to combat spam, platform manipulation, and bot activity.
Other major tech companies, such as Alphabet’s YouTube and Netflix, have also experimented with a combination of ad-supported and subscription plans. YouTube shares a portion of its subscription revenue with creators, while X has not disclosed if content creators will be compensated in the ad-free subscription models.
To generate revenue, Musk introduced a $8 per month subscription service for verified accounts and offered discounts to companies for advertising on the platform.
However, due to concerns about lax content moderation, advertisers were hesitant to have their ads displayed alongside inappropriate content.
Last week, the European Commission initiated an investigation into X to assess its compliance with new regulations regarding illegal and harmful content, following the spread of disinformation on the platform during the conflict between Hamas and Israel.
Reporting by Gursimran Kaur in Bengaluru and Supantha Mukherjee in Stockholm; editing by Savio D’Souza, Jason Neely, and Susan Fenton
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How does the introduction of the “Not A Bot” subscription method aim to address issues of spam, platform manipulation, and bot activity on platform X
False information and hate speech on the platform. This investigation could impact the platform’s revenue further if stricter regulations are enforced.
With the introduction of premium subscriptions, Musk hopes to provide users with an enhanced experience while also generating additional revenue for the platform. The lower-cost option, which includes all features but still includes ads, aims to cater to users who are unwilling to pay a higher price for an ad-free experience. On the other hand, the more expensive option provides an ad-free experience for users who are willing to pay a premium.
While the exact pricing and features of the subscription plans have not been disclosed, it is expected that these new tiers will offer additional benefits and privileges to subscribers. This move follows a trend seen in other tech companies, where a combination of ad-supported and subscription plans has proven to be successful.
One potential concern for content creators on X is whether they will be compensated in the ad-free subscription models. Platforms like YouTube share a portion of their subscription revenue with creators, but X has not revealed its plans in this regard. It will be interesting to see how the platform addresses this issue and ensures that content creators are adequately rewarded for their contributions.
Furthermore, the introduction of the “Not A Bot” subscription method is an important step towards combating spam, platform manipulation, and bot activity. By charging a small fee for access to the platform, X aims to deter malicious actors and create a safer and more authentic user experience.
Musk’s efforts to increase revenue through subscriptions and advertising come as advertisers have shown hesitation due to concerns about lax content moderation. The recent investigation initiated by the European Commission further highlights the importance of addressing these concerns and ensuring that the platform complies with regulations regarding illegal and harmful content.
In conclusion, the announcement of new premium subscriptions for social media platform X by Elon Musk marks a significant step towards increasing revenue and enhancing the user experience. With the introduction of two tiers of subscriptions, users will have the option to choose between a lower-cost option with ads and a more expensive ad-free option. As the platform faces challenges regarding content moderation and advertiser hesitancy, it remains to be seen how these new subscription plans will address these issues and further contribute to the growth of the platform.
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