TWTR - TWTR Stock Forecast: Elon Musk Has Dropped Clues About A Possible $8 Monthly Subscription Fee For Twitter's Verified Users
It’s possible that verified Twitter (TWTR stock) users could soon be required to pay to maintain their blue check marks.
Elon Musk has indicated that he intends to implement a subscription model for Twitter Inc.’s authentication procedure. This new strategy is meant to create another revenue stream beyond advertising for the social media firm.
Mr. Musk made this suggestion in a series of tweets that he posted early on Tuesday morning Eastern Time. He said that Twitter users might be charged $8 per month to have a verified account. He was replying to prior rumors that he was considering establishing a $ 20-per-month membership plan. His comments were in response to those reports.
“We need to figure out a way to pay the bills!” he wrote. There is a limit to how much Twitter can rely on advertising revenue.
Since Mr. Musk finished his buyout of Twitter ( NYSE:TWTR ) for $44 billion last week, he has already reshuffled the company’s top echelons, which has led to widespread controversy. He let go of several of Twitter’s most senior executives and is now collaborating on reimagining the company with a group of advisers, investors, and employees from his other businesses. In addition, he removed the board of directors and appointed himself as the only director of the corporation.
Since the beginning of this year, Mr. Musk has been vocal about his desire for Twitter to shift its major income model away from advertising and toward paid subscriptions. Companies in the social media industry, such as the parent company of Facebook (Meta Platforms Inc.) and the parent company of Snapchat (Snap Inc.), have had difficulty capitalizing on the subscription model.
Mr. Musk has not yet provided any details regarding how or if he plans to carry out that transition. In regards to the announcement of improvements to the platform, he has been mysterious up to this point. He has frequently given signals in the form of brief tweets. On Tuesday, representatives for Mr. Mus...
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