Rafael Henrique | Lightrocket | Getty Pictures
X, the social media service previously often called Twitter, will launch two new tiers of subscriptions for customers, its proprietor Elon Musk mentioned on Friday.
One tier will likely be “decrease price with all options, however no discount in advertisements,” whereas the opposite is “dearer, however has no advertisements,” Musk mentioned.
This week, X introduced it would start a check that costs customers $1 per 12 months in New Zealand and the Philippines with the intention to “put up & work together with different posts.” X mentioned it’s a part of a program designed to combat spam and bot exercise. Those that decide out will solely be capable to learn posts.
It is unclear if the $1 annual subscription is without doubt one of the two new subscription tiers that Musk is referencing.
The social media firm already has a $8 per 30 days subscription service referred to as X Premium. Customers who signed as much as this may get the blue checkmark on their account in addition to different options, corresponding to the power to edit a put up.
Since taking up Twitter in October 2022 and rebranding to X, Musk has made sweeping adjustments, together with making cuts to belief and security groups and eradicating the blue checkmark from non-paying accounts. The blue checkmark helped customers establish genuine accounts belonging to public figures. Musk has additionally reinstated beforehand banned accounts on the platform.
These adjustments have scared off advertisers. In July, Musk mentioned X’s money stream stays unfavorable due to a virtually 50% drop in promoting income coupled with “heavy debt.”
New subscriptions might be a bid to enhance the corporate’s funds and open new income streams.
X is dealing with challenges from much less mature gamers corresponding to Meta’s Threads and Bluesky.