Twitter customers can now apply to monetize their content material on the platform. Based on a brand new tweet by Elon Musk on Thursday, customers will now be capable to cost others for entry to their content material. This content material consists of video and long-form textual content alike.
Apply to supply your followers subscriptions of any materials, from longform textual content to hours lengthy video!
Simply faucet on “Monetization” in settings.
— Elon Musk (@elonmusk) April 13, 2023
“Apply to supply your followers subscriptions of any materials, from longform textual content to hours lengthy video!” Musk wrote within the tweet, including that customers can now to on the “Monetization” tab within the Settings on the platform. As soon as that’s executed, customers can supply their followers subscriptions of their content material on the platform. For now, this characteristic is on the market solely to customers within the US. When an person complained about it on Twitter, Musk replied that he was “engaged on it.” Moreover, for now, there is no such thing as a minimal frequency of manufacturing of content material required to supply subscriptions to different customers.
Musk added that Twitter is not going to be holding any of the cash on subscriptions for the following 12 months, and that customers will obtain 70% of the subscriptions on iOS and Android like (a payment of 30% is charged on each for the second). For the net, customers (and Twitter) will be capable to preserve 92% of the subscription payment on the net. After the primary yr, the charges charged on iOS and Android drop to fifteen%, and Twitter will add a “small quantity” on high of that – the quantity will rely on the quantity, Musk mentioned.
The social media platform will promote the content material of customers as nicely – to be able to “maximize creator prosperity” and their earnings – and customers can have the chance to go away the platform at any level of time. This characteristic is anticipated to be significantly helpful for creators who’ve constructed a loyal following on Twitter and wish to monetize their content material. By providing unique content material to subscribers, they’ll deepen their relationship with their viewers and improve the engagement of their content material.
It additionally offers a possibility for brand new creator to start out constructing a following of their very own and producing earnings from their content material. And for Twitter, the characteristic has the potential to extend person engagement and retention. By providing creators the power to monetize their content material, Twitter can also be incentivizing them to create high-quality, unique content material for his or her followers.
Not solely will this appeal to new creators to come back to the platform, however it would additionally assist Twitter diversify its personal income streams and scale back its personal reliance on promoting. If the transfer is profitable, then it would resolve a lot of Twitter’s woes concerning income. It additionally comes at a time when many of the advertisers have jumped ship, regardless that Musk lately claimed that many of the advertisers have returned to the platform.