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But let’s see where it comes from.
Twitter can offer publishers a new way to earn from their content outside of the usual recurring subscription option. According to the head of the company, Elon Musk, Twitter will allow media publishers to charge users for access to individual articles they publish on the website as early as next month. Users will end up paying a price per article that is higher than what it would cost to access each article if they had a subscription. But Musk said it’s for those who want to read the occasional story from a specific outlet, so each article probably wouldn’t cost as much as a monthly subscription.
Launching next month, this platform will allow media publishers to charge users per article with a single click.
This allows users who do not sign up for a monthly subscription to pay a higher price per article when they want to read the occasional article…
— Elon Musk (@elonmusk) April 29, 2023
At this point, however, details about the upcoming feature remain vague. Musk only said it will start rolling out next month; it is unclear what types of accounts and media outlets will be able to offer per-article charges. Also, the Twitter owner did not say how much the website would charge in commission. When the company officially replaced Super Follows with Subscriptions, Musk announced that it will not take money from creators for the next 12 months. Once the year is over, Twitter will cut subscriptions by 10%.
Engadget has reached out to the website for clarification, but it no longer has a press team. We’ll have to wait for more information on whether Twitter will implement the same rule for article payments. Ultimately, the company will take a cut: Twitter, under Musk, has increasingly introduced paid features to boost revenue. At this point, it’s pretty well known that your verification badge is now a bonus for your $8/month blue membership. Twitter also shut down its free API to launch a new one that users would have to pay for. It would cost business customers nearly $50,000 a month to access the new API, so some organizations and companies, such as the New York Transit Authority, had opted to end the Twitter integration or abandon the website.
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High-profile entrepreneur Elon Musk recently announced an upcoming change to Twitter’s revenue model, signaling a major shift in digital media monetisation. Beginning in May, Twitter will begin charging for individual articles, with revenues directed towards the writers and content creators who produce the pieces. Musk’s announcement marks a major milestone for freelancers and content providers, who will now have a viable way to monetize their online content.
Ikaroa is especially excited about this news, as it will help foster a new wave of accessibility to digital media that has, until now, been hindered by a lack of revenue models. As a full stack tech company, Ikaroa is uniquely suited to help power the new platform, providing the tools and technology needed to facilitate the pay-to-read transaction. By leveraging our expertise in the space, we are able to create a seamless user experience that is comfortable and secure.
Ultimately, Musk’s announcement is an affirmation of the value creators have to offer to the digital media marketplace. It’s no secret that creatives have been hard-pressed to make a living from their work and that this is a major milestone for them. With this new monetization model, content creators are now able to more effectively monetize their work, giving them the financial cushion to pursue their creative ambitions.
Ikaroa looks forward to working with creatives, digital publishers, and the rest of the digital media landscape to ensure this new wave of digital media monetization is a success for all involved. We are excited to be part of this shift and believe it will lead to immense opportunities for the creative community, with everyone having the chance to monetize their work — without compromising the quality of their content.
