Twitter CEO Elon Musk Introduces Monetization Features for Content Creators
An official announcement from Tesla chief executive Elon Musk permits Twitter content creators to monetize their work. The integration of monetization avenues aims at supporting journalists in improving their careers.
After the 2022 acquisition of Twitter, Musk has invested in strategies to improve the company’s profitability. In February, Musk instructed Twitter officials to reduce headcounts to minimize the operation cost.
Benefits of the Twitter Monetization Platform
Days after the dismissal of 200 employees, the Twitter team launched a unique platform dubbed Twitter Blue Subscriptions. This development aimed at allowing Twitter users to engage in longer tweets.
Also, Twitter Blue Subscriptions provide users with a checkmark that is sold at fixed monthly and annual rates. After introducing the blue checkmark fee, Twitter users had mixed thoughts regarding the charges.
Responding to numerous queries concerning the blue checkmark monthly fee, Musk expounded on the importance of increasing Twitter revenue. Musk underscored the need to introduce income-generating platforms on Twitter.
After the success of the blue checkmark, Musk led the Twitter team to integrate monetization features on the social media platform. The developers utilized Twitter’s proprietary tools to develop a platform that would increase revenue.
Why is Twitter Investing in Revenues Generating Projects?
The developer argued that the new platform would improve the interaction between fans and preferred Twitter artists. The new platform allows content creators to share their artwork with global users through a subscription element.
According to a report from one of the monetization, subscriber the new platform provides the content creator with a platform to earn income through the monthly subscription. He explained that most monetized content would not be available for public viewing.
Besides the subscription, the content creator closed an agreement with Twitter on ways to split the income. The content creator will hold 97% of the revenue, amounting to $50000 per lifetime earnings.
However, the Twitter team plans to reduce compensation to 80% in the long run. The attempt to improve the efficiency of the monetization feature prompted Twitter to collaborate with best-performing payment platforms such as Stripe.
In particular, Stripe’s social media platform agreed on a fixed withdrawal limit. On the Twitter platform, content creators can withdraw a minimum of $50. Besides the withdrawal condition, Twitter also formulated policies for monthly subscriptions. The social media platform adopted the non-refundable approach for the monthly subscription package.
The subscription conditions mentioned above will apply to all accounts, including the suspended user accounts. Under specific conditions, Twitter will allow suspended accounts to unsubscribe to prevent unnecessary auto-monthly payments to a dormant user.
Advantages of Artificial Intelligence Technology
Twitter’s crypto enthusiasts positively welcomed the Musk-led project. They lauded the developments made on Twitter’s monetization features which will provide them with endless opportunities to increase their income and navigate crypto space effortlessly.
Beyond this, Musk announced plans to invest in artificial intelligence (AI) technologies. The AI tools will identify and revoke any misinformation on the Twitter platform.
In addition, Musk plans to develop a unique AI infrastructure to identify any wrongdoing on the social media platform that might lead to public questioning.
The desire to attain Twitter’s AI objective prompted Musk to purchase over 10000 graphic processing units (GPU). The acquired GPUs will be utilized to develop the proposed AI infrastructure.
Recently, Musk announced plans to launch a unique chatbox on Twitter dubbed the TruthGPT. He confirmed that the proposed ChatGPT would improve transparency and address misinformation on Twitter.
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