Elon Musk has announced that Twitter will be introducing a new feature that Individual articles on Twitter can now be accessed by users for a fee charged by publishers. In a tweet on Saturday, Musk stated that this new feature will enable users who are not interested in signing up for a monthly subscription to a paywalled media outlet to pay a higher per-article price for occasional reading. The SpaceX and Tesla CEO described this as a major win-win for both media orgs and the public" and teased a May launch.
There is uncertainty regarding whether Twitter has established any agreements with specific publications and what percentage of the fee the social media platform will receive. Previously, Twitter introduced Subscriptions as a substitute for Super Follows, which permitted users to subscribe to accounts and receive access to exclusive content. Musk has previously stated that for one year, Twitter would not charge any money from creators; thereafter, they would receive a 10% cut on subscriptions.
This new feature from Twitter comes as publishers are increasingly seeking alternative revenue streams. Many media outlets have put their content behind paywalls to make up for declining ad revenue. However, this move has also caused concern that it could lead to a two-tiered system, with only those who can afford to pay for information having access to it.
Twitter's move towards monetizing its platform has been ongoing, with the social media site testing various features in recent months, such as Super Follows, Ticketed Spaces, and Tip Jar. The new feature allowing publishers to charge for individual articles is another step in the company's plan to offer more ways for users to earn money on the platform.
It remains to be seen how this new feature will be received by both publishers and users, and whether it will provide a sustainable alternative to monthly subscriptions. Nonetheless, Twitter's latest move is sure to shake up the media landscape and provide a new avenue for publishers to generate revenue.
Twitter has recently replaced its free API with a paid version. This paid version can cost enterprise customers tens of thousands of dollars per month. This has prompted some companies, such as the transportation authority of New York City, to either refuse to sign up or leave the platform altogether.