Twitter (NYSE:TWTR)
The Wall Street Journal reports that Twitter (NYSE:TWTR) is restricting paying users’ access to publishers’ ad-free material, the most sweeping change since Elon Musk concluded his $44B purchase of Twitter and became its CEO and sole director.
Twitter Blue, the company’s $4.99/month membership tier, has been the center of attention in recent hours. In addition to providing members with ad-free content from hundreds of publishers, the site also gives users the power to “undo” postings made on the service.
However, in the last few days, Musk has proposed increasing the price of premium memberships to $19.99 per month and linking account verification to them. A significant benefit of the program is proposed to be eliminated in the current report.
Stephen King, the renowned horror writer, tweeted his displeasure at having to pay $20 monthly, saying he would instead “be forced to use a free service.” “disappearing like Enron,” Musk said. “We need to pay the bills some way! Twitter will need more than just ads to survive. And how about $8?”
Any change TWTR makes to its price structure will affect how a select few of the most influential users on the platform generate revenue from their accounts.
Conventions in social media Without a membership fee and with close to 2 billion daily users, Facebook (NASDAQ:META) dominates the market. While Facebook has dabbled with paid membership services for things like groups, news, and video on demand throughout the years, users may still join for free for the service’s primary offering.
Snap (NYSE:SNAP) has had difficulty growing its income over the last year, so it is betting big on its monthly subscription service Snapchat+, which costs $3.99.
Revised at 2:09 p.m, Tesla CEO Elon Musk has tweeted his disapproval of “verified accounts, indicated by a blue checkmark on the site, and the slogan “Power to the people!” (a play on “lords & peasants”) It’s blue and will only cost you $8 a month.”
All Blue users will get the “Ability to upload extended video and audio; Half as many adverts” and “paywall bypass for publishers willing to collaborate with us; Priority in answers, mentions, and search, which is vital to beat spam/scams;
” Furthermore, he explains, this provides TWTR with “an income source to reward content providers.”
Featured Image- Pexels @ greenwish _
Author Shariq Khan 
