In the latest move to monetize its platform, Twitter has announced that it will allow media publishers to charge users per article starting in May. The news was shared by Twitter CEO Elon Musk, who claims that the new service will be a “win-win for both media orgs & the public”. According to Musk, the service will allow media companies to charge a higher per-article price to readers who wouldn’t necessarily pay a full subscription rate while allowing users to avoid paying for subscriptions they may not want or need.
While the specifics of the service have not been fully disclosed, it is likely that Twitter will take a cut of the fees charged by media publishers. Musk has not indicated what percentage Twitter will take or what conditions media publishers will need to abide by.
As with all Elon Musk timelines, it is essential to take the “next month” estimate with a grain of salt. However, it is clear that Twitter is in a race to grow its revenue, especially as it faces competition from other social media platforms and Twitter alternatives. One such alternative is Bluesky, which has recently added high-profile Twitter users such as Darth, Dril, and AOC to its ranks.
This latest move by Twitter comes as Elon Musk attempts to lure creators to the platform, urging them to begin monetizing their content with Twitter Subscriptions. To entice creators, Musk has promised that Twitter will keep none of the money creators earns for the first 12 months. However, the company has faced challenges in offsetting the loss of advertisers who have reportedly fled the platform since Musk’s takeover. In addition, Twitter has introduced a new fee structure for API access, which could cost some enterprises as much as $42,000 per month.
It remains to be seen whether Twitter’s pay-per-article service will be a success. While it may appeal to users who are reluctant to commit to full subscriptions, it is not clear how many media publishers will choose to use the service, or how much they will charge per article. However, if successful, the service could provide a new revenue stream for Twitter and help the company to compete in an increasingly crowded social media landscape.