Elon Musk Confirms X is Soon Launching Two New Premium Tiers – Elon Musk has confirmed that X, formerly known as Twitter, is set to introduce two new premium subscription tiers, in alignment with prior reports and code discoveries. According to Musk, one of these tiers will be priced below the existing $8 monthly plan but will not eliminate advertisements. The other tier, on the other hand, will be a pricier option that completely removes ads.
The current premium plan commits to displaying “half ads” for subscribers, although Musk did not disclose the pricing details for these upcoming tiers. In the beginning of this month, @aaronp613 discovered indications within X’s code alluding to the existence of three distinct premium subscription levels. Concurrently, Bloomberg also published a report stating that the company is experimenting with various paid subscription plans to bolster its revenue streams.
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Elon Musk and his team are actively exploring innovative approaches to boost X’s financial performance. Just this week, the company initiated trials for a basic functionality plan priced at $1 per year, available to new users in New Zealand and the Philippines. This offering encompasses features like posting, liking, and reposting. X clarified that this move is primarily aimed at curbing the presence of automated accounts on the platform and not intended as a substantial revenue generator.
In recent news, a Reuters report highlighted a consistent decline in ad revenue since Elon Musk assumed control of the platform. Given this trend, it’s no wonder that Musk is taking strategic actions to reinforce subscription-based revenue streams. In an effort to entice advertisers, the company has appointed Linda Yaccarino, a former NBC Universal executive, as CEO.
As part of this endeavor, they are striving to present metrics that present an attractive picture. Just this month, Yaccarino revealed that X boasts approximately 245 million daily active users and registers a staggering 500 million daily posts, underscoring the platform’s considerable reach and engagement levels. These moves reflect a broader strategy to reshape the platform’s revenue dynamics under Musk’s leadership.