Elon Musk’s Twitter cuts content subscriptions by 10 percent after 12 months
Twitter Inc Chief Executive Elon Musk said on Friday that the social media platform will cut content subscriptions by 10% after the first year, as the company looks to monetize content on the website in an effort to diversify its revenue streams.
Earlier this month, billionaire owner Musk said social media users could offer their followers subscriptions to content, including long-form text and hours of video.
He had also said that the company would not take cuts in content subscriptions for the first 12 months.
Musk has brought changes to Twitter to boost revenue after the platform’s ad revenue fell last year following his $44 billion acquisition that closed in October.
He added that the order cut for the company’s iOS and Android platforms will drop to 15 percent in the second year from 30 percent in the first.
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