Twitter to Share Ad Revenue with Verified Creators, Elon Musk Announces

Billionaire Elon Musk Unveils Twitter's Revenue-Sharing Program for Verified Creators
Twitter to Share Ad Revenue with Verified Creators, Elon Musk Announces

Elon Musk, the renowned entrepreneur and innovator, continues to make headlines with his groundbreaking initiatives. Recently, Musk unveiled his latest endeavor, capturing attention once again. With Elon Musk at the forefront, the world eagerly anticipates the visionary's next move. From SpaceX to Tesla, Elon Musk's name has become synonymous with innovation and disruption. With his relentless drive and unyielding determination, Elon Musk is undeniably reshaping industries and pushing boundaries. The world watches eagerly as Elon Musk's visionary leadership takes us into the future.

Elon Musk has revealed that Twitter will begin compensating verified creators for ads appearing in replies to their posts. In a tweet, Musk stated that the first payment to verified creators will amount to approximately $5 million. He emphasized that only ads served to verified users will be included in the payment. Musk had previously mentioned that Twitter generates around 5 to 6 cents per hour in ad revenue from its users, but he believes this figure can be boosted to 15 cents or higher by delivering more relevant and timely advertisements to the platform's users.

What are others reading:

Following Elon Musk's acquisition of Twitter and the company's transition to a private entity with a $44 billion deal last year, the billionaire has been focused on implementing various strategies to boost revenue. One notable initiative is the introduction of Twitter Blue, a paid subscription verification service. Through this service, verified creators have the opportunity to offer exclusive content to subscribers in exchange for a monthly fee ranging from $2.99 to $9.99.

These efforts by Twitter aim to address the longstanding challenge of generating substantial revenue. At the time of the acquisition, Musk revealed that the platform was incurring daily losses of approximately $4 million. Consequently, the company underwent significant layoffs, affecting about half of its workforce of 7,500 employees, as a measure to prevent bankruptcy and stabilize its financial position.

In March, Musk expressed optimism about Twitter's financial outlook, stating that the company's recent actions had positioned it for potential positive cash flow in the second quarter of 2023. However, he remained cautious, emphasizing the need to avoid premature optimism.

Last year, Musk announced his plans to step down as CEO of Twitter once a successor was appointed. The appointment of Linda Yaccarino, a former NBCUniversal advertising executive, as the new CEO was announced in mid-May. Yaccarino officially assumed the role, sharing on Twitter that her first day was successfully completed. She also hinted at upcoming announcements, encouraging followers to stay tuned.

With Yaccarino now leading Twitter as CEO, Musk has stated his intention to transition to a chief technology officer position within the company. In this role, he aims to contribute to the guidance of technological initiatives and product design.

Twitter to Share Ad Revenue with Verified Creators, Elon Musk Announces

Web browsing news

Was this news helpful?