According to inside sources, Elon Musk may soon launch a new method for Twitter to generate revenue.
The self-declared “Chief Twit” reportedly will charge $20 per month for ‘blue check’ verification badges.
“Sources familiar with the matterĀ told Platformer, a newsletter created by Casey Newton, a former editor of The Verge, that Twitter executives spent the weekend discussing a possible change to the social platform where users would have to pay to subscribe to Twitter Blue or lose their badges,” Insider reported.
The subscription model is reportedly the first major task given to Twitter employees since Musk acquired the company.
“Elon Musk has given employees their first ultimatum: Meet his deadline to introduce paid verification on Twitter or pack up and leave,” according to The Verge.
Twitter is planning to start charging $20 per month for verification https://t.co/yImdvSIjQt pic.twitter.com/gBflFODwH2
— The Verge (@verge) October 31, 2022
Elon Musk has reportedly given Twitter employees their first major task ā introducing a $20 per month subscription for users to gain a verification badge by November 7 or leave the company. https://t.co/7ZkDjTc7ZY
— Breitbart News (@BreitbartNews) October 31, 2022
NEW: Twitter is planning to start charging $20 a month for verification. Itās Elon Muskās first big project.
Oh, and the team building it was told they will all be fired if they donāt meet a launch deadline of November 7th. https://t.co/Kk8IVynhzw
— Alex Heath (@alexeheath) October 31, 2022
Cont. from Insider:
Twitter Blue, a $4.99 monthly subscription, launched last year as the platform’s premium offering, giving users access to new features like customizable app icons, the ability to undo or bookmark tweets, and a “reader mode” to more easily view long threads of posts. A verification-tier subscription may cost as much as $19.99 per month,Ā The Verge reported.
Currently only available in the US, Canada, Australia, and New Zealand, Twitter Blue’s launch has struggled withĀ niche appealĀ andĀ limited featuresĀ ā but linking verification to the subscription fee could bolster its popularity. Should Twitter require payment for its verified status, it would be the first major American social media app to do so, as most platforms offer the feature for free.
The Verge noted:
Employees working on the project were told on Sunday that they need to meet a deadline of November 7th to launch the feature or they will be fired.
Musk has been clear in the months leading up to his acquisition that he wanted to revamp how Twitter verifies accounts and handles bots. He is also keen on growing subscriptions to become half of the companyās overall revenue. On Sunday,Ā he tweeted: āThe whole verification process is being revamped right now.ā
The whole verification process is being revamped right now
— Elon Musk (@elonmusk) October 30, 2022
Zero Hedge added:
Musk hasĀ wasted no timeĀ making changes at Twitter despite being “Chief Twit” for less than a week –Ā firing ex-CEO Parag Agrawal and other top execs (including wrongthink czar Vijaya Gadde) – whoĀ may not receive their golden parachutesĀ (more on that later). Musk also had engineers change Twitter’s homepage for logged-out users.
And while advertisers have been threatening to bail on Twitter left and right over Musk’s commitment to free speech, it would be interesting to know just how many people are willing to pay $240 per year into the company’s ‘blue check’ program.
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