Twitter owner Elon Musk announced on Thursday April 13 that users of the social media platform will be able to offer content subscriptions to their followers, including old text and videos.
Users offering subscriptions, a feature that can be accessed via the "Monetization" tab in the settings, will get all the money a customer pays except for costs imposed by platforms like Android and iOS. Twitter won't take any profit for the first 12 months.
"The amount is 70% for subscriptions on iOS & Android (they charge 30%) and about 92% on the web (can be better, depending on payment providers)," Musk said in a tweet. He also added that Twitter would also help promote the work of creators and maximize their income.
However, Google rejected Musk's claims in an email to Reuters and said they had reduced service fees for all subscriptions on Google Play to 15% from 30% by 2022.
Musk has made changes to increase revenue on Twitter after the social media platform experienced a decline in advertising revenue last year, in preparation for a recurring acquisition before finally finishing in October.
Since taking over, Musk has quickly made some changes to products and organizations. The company launched a Twitter blue checklist that is verified as a paid service and reduces employees by about 80%.
"Twitter is now "less or less at a break-even point", Musk said in a Twitter Spaces interview on Wednesday, April 12.
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