However, it appears he has already begun to plan another revenue stream for the platform. The executive has confirmed plans to charge new users $1/year for basic features.
These features include the right to create posts, comment, or repost other content. According to Elon Musk, this measure will combat the growing problem of bots on the social media platform.
Why it matters: Many social media users have criticized Elon Musk for his past introductions to the platform. This change may lead to similar reactions since it effectively limits new users who are unwilling to pay a small fee.
Correct, read for free, but $1/year to write. It’s the only way to fight bots without blocking real users.
This won’t stop bots completely, but it will be 1000X harder to manipulate the platform.
— Elon Musk (@elonmusk) October 18, 2023
This announcement means that new users will be required to pay $1/year.
However, there is some confusion regarding the functionality of the platform without the subscription. Elon Musk states only writing is kept behind a paywall. However, other users have pointed out that X Support implied features like bookmarking may also be limited.
Nonetheless, the billionaire believes this measure is the only effective way of dealing with the growing influence of bots. Past introductions like Twitter Blue were also targeted at reducing the frequency of bots on the internet.
In addition to fighting bots, this measure will help X generate more revenue. Even though the application is ad-based and already generates money, Elon Musk is determined to ensure the social media platform thrives among the competition.
X is also expected to introduce a new version for premium users. This version will remove the ads entirely, but there is no information regarding prices. For now, X Premium costs $8/month.
Due to the ever-changing rules and policies, a lot of advertisers are unhappy with the website. The move to introduce a premium version that does not include ads might be a new strategy to deal with the situation entirely. However, it remains to be seen if Elon Musk will go through with this decision.
Due to the recent changes, there is a lot of speculation about Elon Musk’s goals for the once-free platform. Some believe he is interested in making it an all-in-one solution, bringing banking and other financial services to the platform.
Malik Usman is student of Computer Science focused on using his knowledge to produce detailed and informative articles covering the latest findings from the tech industry. His expertise allows him to cover subjects like processors, graphics cards, and more. In addition to the latest hardware, Malik can be found writing about the gaming industry from time to time. He is fond of games like God of War, and his work has been mentioned on websites like Whatculture, VG247, IGN, and Eurogamer.