Elon Musk, the CEO of Twitter Inc., said on Saturday that media publishers would be able to charge readers per article with just one click on the social media platform, calling it a victory for both the general public and media organisations.
According to billionaire owner Musk, the option, which will launch in May, would allow users who do not “sign up for a monthly subscription to pay a higher per article price for when they want to read an occasional article,” to do so.
In a statement on Friday, Musk noted that Twitter would not take a cut for the first year and that the firm will take a 10% cut on content subscriptions thereafter. These memberships include hours-long videos and long-form writing.
Musk has quickly implemented a number of organisational and product changes after assuming control of the social media company in October. The firm reduced its workforce by around 80% and launched Twitter-verified blue tick as a premium service.
Musk has been implementing adjustments at Twitter to increase revenue after the social media site’s advertising revenues fell last year as it prepared for his on-again, off-again acquisition that ultimately concluded.