Elon Musk, the CEO of Tesla, has made yet another announcement regarding Twitter, revealing that content creators can now make money from their posts on the platform. Under Musk's leadership, Twitter has implemented several measures aimed at making the social media platform more profitable and promoting citizen journalism. These measures include mass layoffs and the introduction of Twitter Blue subscriptions. While some previously-verified individuals protested against having to pay a monthly fee for a 'Blue checkmark,' Musk saw it as a necessary revenue stream for the company.
The latest change to Twitter allows users to monetize all types of posts worldwide, with the aim of increasing follower engagement and generating new revenue streams. The new 'Subscriptions' feature enables Twitter users to charge followers a monthly fee, set by Twitter, to access exclusive content from creators. Creators will keep up to 97% of the revenue until they earn $50,000 in lifetime earnings, after which the revenue split will drop to 80%. Twitter has partnered with Stripe, a payments processor, to payout creators.
However, creators will only start receiving revenue after they reach the minimum threshold of $50. Additionally, subscription services are non-refundable, even if a creator's Twitter account is suspended for any reason. In such cases, users must unsubscribe manually to avoid automatic monthly payments to inactive Twitter accounts.
Crypto Twitter members, who have earned credibility and large followings on the platform over the years, have welcomed the introduction of content creator subscriptions with open arms. Musk's ongoing initiatives to redesign Twitter will also include the use of artificial intelligence (AI) to detect and prevent misinformation on the platform. Despite expressing concerns about AI development and its impact on society, Musk reportedly purchased nearly 10,000 graphics processing units (GPUs) to build the upcoming AI tools.
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