During an announcement on Sunday, Elon Musk revealed that starting next month, Twitter will be introducing a new feature that enables news publishers to charge users on a per-article basis with just one click. Twitter CEO Elon Musk has announced plans to introduce new monetization options for news publishers on the platform. This move comes shortly after Musk announced a series of features aimed at supporting content creators on Twitter.
Elon Musk has revealed that a new update to the platform’s monetization options will be rolled out in May. The announcement was made by Musk on Twitter, and he did not provide further details on the specifics of the update.
Soon Twitter will offer users the option to pay a higher per-article price for occasional reads, allowing those who are unwilling to commit to a monthly subscription to still access their desired content.
“Should be a major win-win for both media organizations and the public,” Musk tweeted.
Other Announcements from Twitter
Over the weekend, Twitter made headlines with the announcement of a new feature called “Monetization” that enables content creators to earn money on the platform. According to CEO Elon Musk, all proceeds from this feature will go directly to the creators, with Twitter taking no cut for the time being. The announcement comes as part of a larger effort by Twitter to support its user base and offer new opportunities for monetization on the platform.
Twitter will take a 10% cut of content subscriptions after a year. However, Musk also announced that subscription fees on iOS and Android will drop from 30% to 15% in the second year. Musk emphasized that these changes will still result in a net gain for content creators. He went on to explain that for many creators, the revenue generated from these subscriptions represents a vital source of income and allows them to dedicate more time to creating high-quality content for their followers.
However, recently Twitter was also in the news due to the blue tick controversy: Twitter Strips Verified Status from Non-Paying Users
The Inevitable Issue with Pay-Per Article Feature?
One of the main concerns with Twitter’s upcoming pay-per-article feature is that it could devalue subscription models, which are typically far more lucrative for media organizations. While not all readers will become subscribers, a percentage of the audience will, and if those subscribers no longer need to pay for access to content, it puts pressure on the per-article model to deliver more revenue to offset the lost subscription revenue.
This presents a challenge for media entities, as they need to carefully balance the benefits of offering both pay-per-article and subscription options while ensuring that they maintain a sustainable revenue stream.
Read Also: What Are Twitter’s Grey, Gold, and Blue checkmark and Who will get them?
So, What Now?
While Twitter’s announcement regarding the introduction of the ‘pay-per-article’ has generated a lot of buzz, some crucial details about the feature are still unknown. It is unclear what percentage of each transaction Twitter will take as commission, and there is no official launch date for the feature yet. Additionally, there has been no information provided regarding which accounts and media outlets will be eligible to participate in the new payment model.
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