Elon Musk, CEO of Twitter, announced on Saturday that the social media site Twitter will allow publishers to charge users for each item with a single click, calling it a victory for both the public and media organizations.
The service, which will be available in May, will let users who do not “sign up for a monthly subscription to pay a higher per article price for when they want to read an occasional article,” according to billionaire founder Musk.
Musk stated on Friday that Twitter will take a 10% cut on content subscriptions after the first year but that the firm will not take a cut during the first year. Long-form text and hours of video are included in these memberships.
Musk has been implementing adjustments to raise revenue at Twitter since taking over the social media firm in October after the social media platform saw advertising income plummet last year in the run-up to his on-again, off-again acquisition that completed.
Under Musk’s ownership, Twitter’s headcount has shrunk from 7,500 to around 1,500, raising concerns that moderation standards and its capacity to comply with impending European requirements would suffer as a result.
Twitter has been repeatedly warned that it is not ready for a new European Union regulatory system for monitoring digital platforms, with violations punishable by a 6% fee of worldwide turnover and, in the most severe circumstances, a temporary suspension of the service.
According to the rules, significant platforms must do annual risk assessments to identify the risks of harmful content such as disinformation, misogyny, child abuse, and election interference. The EU will also inspect the risk-mitigation procedures and measures that have been put in place.
Platforms would also be prohibited from creating profiles of young users in order for firms to target them with advertisements. Platforms that children can access must also implement safeguards to protect their privacy and keep them safe. Users must also be able to simply report illegal content.