In a bold move to rejuvenate X, the social media channel once known as Twitter, Elon Musk is setting the stage for the introduction of dual premium subscriptions. The tech magnate, who assumed control last year, is keen to re-energize the platform’s financial health, especially after seeing a decline in ad revenue. Musk faults social activists for driving away the advertisers.
Musk’s new direction includes charging users for specific services. Although full details are under wraps, a recent trial in New Zealand and the Philippines involved a $1 fee for new users. Those choosing not to pay will have limited functionality, restricted to actions like viewing content and following accounts.
In a unique twist, X is tackling platform manipulation with a “Not A Bot” subscription model. This aims to curb unwarranted activities, such as spam and bot-generated content, and ensure a more authentic user experience.
Unlike YouTube, which shares subscription-generated income with its user creators, X has yet to disclose if it will adopt a similar model. Already, Musk has initiated other revenue streams, including an $8 monthly fee for a “blue check” verification service and offering advertising incentives to corporations.
With these strategies, Musk is making a high-stakes gamble to breathe new life into a flagging social media giant. Whether these tactics will win back advertisers and users is still an open question.
