Twitter will share a portion of its ad revenue with content creators, Musk said today. Musk stated that only accounts subscribed to Twitter Blue are eligible to monetize their ads. This means that it only costs users $8 per month to earn money this way.
While there is currently no official statement on using crypto in its payment or income plans, the Financial Times reported earlier this week that Musk intends to keep that option open. Musk did not share further details about the split of ad revenue between Twitter and its creators.
Will the blue check mark disappear?
Prior to Musk’s acquisition, celebrities, journalists, government officials, corporations and other public figures were eligible to receive the coveted blue check mark. This required supporting documentation demonstrating their eligibility. Musk has consistently disapproved of this process since its inception.
Twitter’s Blue Verified is unfortunately deeply damaged, so will be gone in a few months.
– Said Elon Musk
Musk’s latest ad revenue announcement immediately sparked numerous questions and concerns from users. Many asked for more details so they could weigh up the cost-benefit analysis.
Many small Twitter users wonder whether it is profitable to create content, and on the other hand pay money for a blue check mark.
Top advertisers are dropping out en masse
Since Musk joined Twitter in late October, the social media site has lost 50% of its top advertisers. Last month, The Information reported that the company’s advertising business is showing no signs of improvement. The largest ad buying company has cut its spending on Twitter by 40-50%.
The advertising revenue has traditionally been essential to the business. They account for about 90% of Twitter’s revenue.
Musk is keeping crypto options open
In addition to Musk’s ongoing efforts to revive Twitter’s advertising business and share some of it with creators, the company appears to be making progress with its payment products.
On Monday, the Financial Times reported that Musk has asked engineers to build out his payment systems in fiat. However, he wants an option for crypto to be possible later.
While there is currently no evidence that Twitter will add crypto payments to its Twitter “Coins” plans, the price of Dogecoin, Musk’s cryptocurrency of choice, surged following the news earlier this week.