Elon Musk Says Twitter Will Pay Verified Creators for Ads in Replies – Elon Musk, the billionaire, disclosed that Twitter intends to initiate revenue sharing with verified creators on the platform. This arrangement involves compensating the creators for the advertisements that appear in the replies beneath the content they share. “In a few weeks, X/Twitter will start paying creators for ads served in their replies,” Musk tweeted.
He added that the first block payment will total around $5 million and that “the creator must be verified and only ads served to verified users count.” During March, Musk mentioned that the platform’s ad revenue from users amounts to approximately 5 or 6 cents per hour. He also conveyed his conviction that this figure could be elevated to 15 cents or beyond by implementing advertising that is more pertinent and timely for the platform’s users.
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Following Elon Musk’s acquisition of Twitter for $44 billion and subsequent privatization of the company, he has consistently highlighted the importance of revenue growth through various endeavors. One such initiative is Twitter Blue, a paid subscription verification service. Additionally, the social media platform introduced a feature that enables verified creators within the Twitter Blue service to offer paid subscriptions, granting exclusive content to their subscribers.
Creators have the option to charge monthly fees of $2.99, $4.99, or $9.99 for access to their content. Twitter’s recent initiatives are targeted at addressing a persistent challenge the platform has grappled with: generating substantial revenue. Elon Musk stated that when his investor group assumed control of the company, Twitter was experiencing daily losses of approximately $4 million. This dire situation necessitated drastic measures, leading to a significant reduction in the company’s workforce.
Roughly half of the 7,500 employees were laid off in an effort to avert bankruptcy. Musk said in March that the moves have given Twitter “a shot at being cash flow positive” in the second quarter of 2023, though he cautioned at the time that he didn’t want to “count chickens before they hatch.” Towards the end of last year, Elon Musk declared his intention to step down as the CEO of Twitter once his successor was appointed.
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Linda Yaccarino, a former advertising executive at NBCUniversal, was announced as the new Twitter CEO in mid-May, and on the previous Monday, she confirmed that she had officially assumed the role. Yaccarino expressed her excitement by tweeting that her first day was successfully completed and hinted at forthcoming announcements, urging her followers to stay tuned. In light of Yaccarino taking over as Twitter’s CEO, Elon Musk has stated that he plans to continue in a Chief Technology Officer capacity within the company. His role will involve guiding the company’s technological initiatives and product design.
