Twitter may charge fees for commercial and government users – News

Elon Musk also told Banks he plans to develop features to boost the company’s revenue, including new ways to earn money from tweets that contain important information or go viral.

The Twitter logo is displayed above a trading post on the floor of the New York Stock Exchange. Elon Musk, also CEO of major electric vehicle maker Tesla, has suggested a series of changes on Twitter since last month. — File photo

By Reuters

Published: Wed, May 4, 2022, 3:20 PM

Last update: Wed, May 4, 2022, 10:37 PM

Elon Musk says Twitter could charge ‘light’ fees to commercial and government users, part of the billionaire entrepreneur’s efforts to boost his revenue, which has lagged behind bigger rivals like Meta’s Facebook Platforms Inc.

“Twitter will still be free for casual users, but maybe a slight cost for commercial/government users,” Musk said in a tweet. “Some income is better than nothing! he added in another tweet.

Twitter declined to comment when contacted by Reuters.

Last week, Reuters reported that Musk had told banks he would develop new ways to monetize tweets and crack down on executive pay to cut costs at the social media platform company.

Musk also told banks he plans to develop features to boost business revenue, including new ways to make money from tweets containing important information or going viral, sources told Reuters.

At the annual Met Gala in New York on Monday, Musk said Twitter’s reach is currently just a “niche” and he wishes a much larger percentage of the country would participate.

Musk, also CEO of leading electric vehicle maker Tesla Inc, has suggested a series of changes on Twitter since last month.

In tweets that were later deleted, Musk suggested changes to the premium subscription service Twitter Blue, including lowering its price, banning advertising and offering a dogecoin cryptocurrency payment option.

After signing the deal to buy Twitter for $44 billion last week, Musk said he wanted to improve the platform with new features, make algorithms open source to increase trust, defeat spambots and authenticate all humans. — Reuters

About Tammy N. McFarlane

Check Also

Abu Dhabi School of Government expands its global network of partners at GITEX 2022

The Abu Dhabi School of Government (ADSG) has expanded its global partner network by announcing …