Elon Musk: Platform Will Take 10% Cuts For Content Subscriptions After The First Year

Twitter wants to continue to increase revenue. (photo: dock. twitter)

JAKARTA - Twitter Inc CEO Elon Musk announced on Friday April 28 that the social media platform will take a 10% cut on content subscriptions after the first year, as the company seeks to monetize content on its website in an effort to diversify revenue sources.

Content creators can now enable subscriptions to their text, pics & video worldwide on this platform! https://t.co/XzrFMLPytB

— Elon Musk (@elonmusk) April 28, 2023

Content creators can now enable subscriptions to their text, pics & video worldwide on this platform! https://t.co/XzrFMLPytB

Earlier this month, Twitter-owned billionaires said that users of the social media platform would be able to offer content subscriptions to their followers, including long-form text and clocked videos.

He also said the company would not take a cut for the first 12 months on content subscriptions.

Musk has made changes on Twitter to increase revenue after the platform experienced a decline in advertising revenue last year ahead of a closed acquisition in October 2022.

He added that the company's cut from subscriptions on the iOS and Android platforms will drop to 15% in the second year from 30% in the first year.