Twitter Allowing Users to Monetize Content Through Subscriptions

The shadows of people holding mobile phones are cast onto a backdrop projected with the Twitter logo in an illustration picture taken in Warsaw, Poland, on Sept. 27, 2013. (Kacper Pempel/Reuters)

Twitter will allow users to apply to monetize their content—including long-form text and hours-long videos—through follower subscriptions in the latest change to the social media platform.

“Apply to offer your followers subscriptions of any material, from long-form text to hours-long video! Just tap on ‘Monetization’ in settings,” Twitter CEO Musk wrote in a tweet on April 13.

The industrialist and Tesla CEO noted that creators would receive all the money earned from their posts for the first 12 months and Twitter won’t take a penny.

“You will receive whatever money we receive,” Musk said. “So that’s 70 percent for subscriptions on iOS and Android (they charge 30 percent) and ~92 percent on web (could be better, depending on payment processor),” he added.

After the first year, the commission on iOS and Android fees will be reduced to 15 percent, according to Musk, who noted that Twitter will also add a “small amount on top of that, depending on volume.”

Google told Reuters in an email that it had already lowered the service fee for all subscriptions on Google Play to 15 percent from 30 percent in 2022.

The Epoch Times has contacted Twitter for comment.

“We will also help promote your work. Our goal is to maximize creator prosperity. At any point, you can leave our platform and take your work with you. Easy in, easy out,” Musk added.

Fine Details

According to Twitter’s official Creator Monetization Standards webpage, creators who want to monetize their content on Twitter must be age 18 or over, must have an account that has been active for at least three months and is complete with full details, such as name, a profile picture, a header image, and bio, and must have secured their accounts with two-factor authentication.

They must also not be designated a state-affiliated media account, must be in “good standing with Twitter,” meaning no repeated violations of various Twitter policies, and must reside in a country in which Twitter’s monetization programs are available, such as the United States, the United Kingdom, Canada, and Australia, among others.

In addition, users who want to monetize their content must be connected to a verified Stripe account, maintain 10,000 active followers or more, and have posted at least 25 tweets in the past 30 days.

Twitter also notes that Twitter users wanting to offer their subscriptions to content must be genuine and cannot be a parody, fan, or commentary account, something that Musk has taken a firm stance on in the past.

Musk’s announcement on Thursday marks the latest change to the social media platform, which the billionaire businessman acquired for $44 billion in October, including phasing out its legacy blue checkmarks and rolling out the Blue subscription paid plan.

On Wednesday, Musk said the social media company is “roughly breaking even,” as the majority of its advertisers have returned after previously abandoning the platform and its cost-cutting efforts have started to pay off.

Further Changes at Twitter

While speaking during a BBC broadcast live on Twitter Spaces, Musk said Twitter now has around 1,500 employees, a significant decline from the roughly 8,000 staff members it had prior to October.

“We could be cash-flow positive this quarter if things go well,” he said, noting that he was forced to take drastic actions at the company after taking it over because it was in a $3 billion negative cash-flow situation.

Also on Thursday, Twitter announced it was making improvements to the writing and reading experience on the platform, allowing Tweets up to 10,000 characters in length, with bold and italic text formatting.

The increased character length feature will be accessible to those who are signed up for Twitter Blue, the company said.

In yet more changes announced on Thursday, Twitter said it is partnering with social investment and trading company eToro to allow users to access real-time prices for stocks, cryptocurrencies, and other financial assets.

“Financial content on social media has provided education to many who have felt excluded by more traditional channels. Twitter has become a crucial part of the retail investing community—it’s where millions of ordinary investors go every day to access financial news, share knowledge, and converse,” Yoni Assia, CEO and co-founder of eToro, said in a statement announcing the move.

“There is power in shared knowledge, and by transforming investing into a group endeavor, we can yield better results and become more successful, together,” Assia added.