Twitter CEO Elon Musk aims to boost revenue and attract new users with pay-per-article service.
On Saturday, Twitter CEO Elon Musk announced that the social media platform will soon introduce a pay-per-article service for its users. According to Musk, the upcoming one-click service will allow media organizations to charge a higher per-article price to readers who would not necessarily pay for a full subscription rate. Musk believes that the service will be a “major win-win for both media orgs & the public.”
Twitter’s attempt to generate more revenue comes at a time when the company is struggling to retain long-time users and attract new ones. The company’s Twitter Blue subscription service has not been successful enough to offset the loss of advertisers who reportedly left the platform after Musk’s takeover. To address this issue, Musk has been courting creators to join Twitter and monetize their content with Twitter Subscriptions, promising that the company will not take any revenue for the first year.
The Pay-Per-Article Service: What We Know So Far
Elon Musk did not reveal the percentage of revenue that Twitter would retain from the pay-per-article service, nor did he specify the conditions that media publishers would have to follow. Nevertheless, Musk highlighted the company’s pressing need to increase revenue and draw in new users. As is typical with Musk’s timelines, it’s advisable to view the expected “next month” launch date as an optimistic projection for the introduction of Twitter’s pay-as-you-go micro-transaction service.
Elon Musk did not reveal the percentage of revenue that Twitter would retain from the pay-per-article service, nor did he specify the conditions that media publishers would have to follow. Nevertheless, Musk highlighted the company’s pressing need to increase revenue and draw in new users. As is typical with Musk’s timelines, it’s advisable to view the expected “next month (May)” launch date as an optimistic projection for the introduction of Twitter’s pay-as-you-go micro-transaction service.
Twitter’s Urgency to Generate Revenue
Despite these challenges, Musk remains committed to finding new ways to generate revenue for Twitter and pay off the company’s debt, which he acquired for less than half of its current value. Musk’s urgency to add new monetized eyeballs and other revenue sources comes as Twitter is facing competition from alternative platforms like Bluesky, which recently added high-profile Twitter users like Darth, Dril, and AOC to its ranks.
Conclusion
Twitter’s recently announced pay-per-article service is aimed at boosting revenue and attracting new users to the platform. Despite the absence of complete details regarding the service, Musk’s determination to explore new methods of monetizing the platform bodes well for Twitter’s prospects. Nonetheless, it remains to be seen whether the service will be effective in compensating for the loss of advertisers and retaining longstanding users.
