Elon Musk is news again for something he tweeted. Yes! I know he is always in news! But wait till you see what he said this time. How about Elon Musk trying to monetize Twitter? A social media site that will be charging you. Can you imagine Facebook or Instagram doing that? Well, Twitter is about to start the trend.
Ever since Musk took over Twitter, he has been in news continuously. From pitching his ideas to stirring controversies, a lot has been going on. Elon Musk guarantees free speech and many other changes on the platform. Everyone has the right to say whatever they want and no one will be censored. Even before buying the platform, Elon Musk was very vocal regarding how the platform could become better. Now, that he is the in-charge, we can expect a lot more changes.
One thing everyone surely knew was that Musk would find a way to generate revenue from Twitter. Elon Musk has always boasted about the revenue-generating capacity of Twitter. Scroll down to find out everything about Elon Musk’s plan to monetize Twitter.
Monetize Twitter via Charging Commercial Users
We all can agree that Elon Musk is a smart man. He is an investor and an entrepreneur. He is the founder of companies like SpaceX, Tesla, and the Boring Company. He is also the co-founder of Neuralink and OpenAI. A person who has so many companies under him knows how to run a business.
This time Elon Musk plans to monetize Twitter. However, if you are a regular user, there is no need to worry! Elon Musk announced on Twitter that the microblogging site may charge a ‘slight’ fee from commercial and government users. He further adds that making some revenue through the commercial users is better than making none. Elon Musk also clears that no fees will be charged from casual users. Twitter will be free for casual users.
Elon Musk has also suggested that he would be making some changes to the algorithms. He also tweeted that he will stop spambots and ‘authenticate’ all the users. Musk has grand plans for Twitter. During Meta Gala, Musk said that he would want to increase the reach of Twitter. He wants a greater percentage of the American population on Twitter and he is finding ways to do so.
Elon Musk’s Vision to Monetize Twitter
Elon Musk bought Twitter for $44 billion. Out of these $44 billion, the Tesla chief executive paid $21 billion from his own money, $12.5 billion against his Tesla shareholding, and the rest from loans. Now, if you are taking such huge loans from banks, there are also huge interests to be paid. People started speculating that Musk might bring changes to the platform to cut the interest costs.
Elon Musk is no fool. Even though there are a lot of memes about Musk, he is a great businessman. You cannot discredit him from his achievements. He knows how to generate revenue. This is what he will be doing with Twitter. There have been rumors that Musk told banks that he would be developing new ways to monetize Twitter and cut costs by reducing executive pay.
Musk also tweeted about reducing the salaries of the board of directors. There are rumors regarding job cuts at Twitter to reduce the costs. However, many sources state that Musk will not make decisions regarding job cuts till he assumes the ownership of the company.
Apart from cutting costs there have been rumored ways of making money through tweets. It has been speculated that Twitter may be charging a fee to third-party websites that want to embed a tweet from verified users.
Earlier this month, Musk tweeted a number of changes that would be brought to Twitter. From Blue premium subscription to paying via Dogecoin. However, this tweet was subsequently deleted. Let us wait for any more official news on this topic. Otherwise, we follow Elon Musk for regular updates on Twitter.
It is time to wrap up! In this article, we have seen Elon Musk’s vision to monetize Twitter. This may be the first step in the developments to come. Let us wait and see how everything is going to turn.
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