Twitter is launching a new service that will allow users to pay to read individual news articles, according to a tweet by Elon Musk.
The service, set to be released later this month, is expected to benefit both users and media companies by providing an alternative to expensive subscriptions. However, futther details of the feature remain unclear, such as how payments would work and or how much of the revenue Twitter will take.
The move is part of Twitter's efforts to attract more creators and generate more revenue after experiencing a loss of advertisers since Musk bought the platform last year.
- In an appearance on "Real Time With Bill Maher" on Friday, Musk said he has had to take drastic action to prevent Twitter from going bankrupt after the acquisition.
- Musk recently told BBC reporter James Clayton that Twitter could become “cash flow positive” this quarter “if current trends continue.”
Meanwhile, Twitter has introduced “Subscriptions," a rebrand of its "Super Follows” feature that lets creators charge $2.99 to $9.99 a month for exclusive tweets, pics, and videos.
- Twitter will not take a cut on the content subscriptions in the first year, after which it will take a 10% cut.
