Elon Musk, the entrepreneur and CEO of X, the platform formerly known as Twitter, has revealed plans to launch two new premium subscription tiers. In a post on X, Musk announced that one tier would be a lower-cost option with all features but no reduction in ads, while the other would be a pricier subscription that eliminates ads entirely. Musk did not provide further details about the subscription plans.
Two new tiers of X Premium subscriptions launching soon.
One is lower cost with all features, but no reduction in ads, and the other is more expensive, but has no ads.— Elon Musk (@elonmusk) October 20, 2023- ADVERTISEMENT -
This announcement comes as X continues to explore new revenue streams and business models. Earlier this week, the company initiated a trial by charging new users in New Zealand and the Philippines a nominal fee of $1 for accessing the platform. Those who choose not to subscribe will be limited to “read-only” actions, allowing them to read posts, watch videos, and follow accounts but not engage in more interactive features. This move dubbed the “Not A Bot” subscription method, aims to reduce spam, manipulation, and bot activity on the platform.
Since Elon Musk took the reins of the platform in October 2022, X has undergone a series of rapid changes, including mass layoffs and the dissolution of content moderation teams. These changes led to several advertisers suspending their ads on the service, impacting the platform’s revenue. Musk has publicly acknowledged this revenue decline and attributed it, in part, to activist pressure on advertisers.
In response to the revenue challenges, Musk introduced an $8 per month subscription service called the “blue check” subscription, offering premium features to subscribers. Simultaneously, he initiated efforts to lure advertisers back to the platform by offering discounts and other incentives.
Musk’s latest move to introduce additional premium subscription tiers is expected to provide X with new avenues for generating revenue while maintaining options for users who prefer an ad-free experience. The precise details and pricing of these new tiers remain undisclosed, but they represent another facet of Musk’s ongoing efforts to reshape and revitalize the platform he acquired in 2022.
