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Musk says Twitter may charge slight fee for commercial, government users
Global Banking & Finance Review®
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(Reuters) -Elon Musk said on Tuesday Twitter Inc might charge a “slight” fee for commercial and government users, part of the billionaire entrepreneur’s push to grow revenue which has lagged behind larger rivals like Meta Platforms Inc’s Facebook.
(Reuters) -Elon Musk said on Tuesday Twitter Inc might charge a “slight” fee for commercial and government users, part of the billionaire entrepreneur’s push to grow revenue which has lagged behind larger rivals like Meta Platforms Inc’s Facebook.
“Twitter will always be free for casual users, but maybe a slight cost for commercial/government users,” Musk said in a tweet. “Some revenue is better than none!” he added in another tweet.
Twitter declined to comment when contacted by Reuters.
Last week, Reuters reported that Musk told banks he would develop new ways to monetize tweets and crack down on executive pay to slash costs at the social media platform company.
Musk also told the banks he planned to develop features to grow business revenue, including new ways to make money out of tweets that contain important information or go viral, sources told Reuters.
At the annual Met Gala in New York on Monday, Musk said the reach of Twitter was currently only “niche,” and he would want a much bigger percentage of the country to be on it.
Musk, also the chief executive officer of top electric vehicle maker Tesla Inc, has been suggesting a raft of changes to Twitter since last month.
In tweets which were subsequently deleted, Musk suggested changes to Twitter Blue premium subscription service, including slashing its price, banning advertising and giving an option to pay in the cryptocurrency dogecoin.
After inking the deal to buy Twitter for $44 billion last week, Musk said he wanted to enhance the platform with new features, make the algorithms open source to increase trust, defeat spam bots, and authenticate all humans.
(Reporting by Shivani Tanna, Maria Ponnezhath and Shubham Kalia in Bengaluru; editing by Uttaresh.V and Subhranshu Sahu)
A commercial user refers to businesses or organizations that utilize a service, such as Twitter, for commercial purposes, often involving advertising or promotional activities.
Revenue generation is the process of increasing income through various means, such as sales, services, or fees, aimed at enhancing a company's financial performance.
Monetization refers to the process of converting an asset, service, or platform into a source of revenue, often through strategies like charging fees or advertising.
A subscription service is a business model where customers pay a recurring fee to gain access to a product or service, such as premium features on a platform.
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