Elon Musk, the owner of X (formerly Twitter), has recently announced plans to introduce two new paid subscription plans for users. Although Musk did not disclose specific details about the plans or their expected prices, this move reflects X’s ongoing efforts to explore different revenue streams.
In recent months, X has made some significant changes to its platform. The social media giant began charging new users in New Zealand and The Philippines a nominal fee of $1 per year to unlock basic features. This decision was seen as a way to monetize X’s user base and generate additional income.
Moreover, X has also adopted a more relaxed approach towards content moderation and embarked on a rebranding initiative, which included the removal of its iconic “blue bird” logo. These changes have been aimed at attracting more users and diversifying X’s appeal.
However, X’s decision to loosen content moderation standards and implement a rebranding strategy has had mixed results. Recent reports suggest that X’s global web traffic to Twitter.com experienced a significant decline of 14% in September compared to the previous year. Furthermore, traffic to X’s advertising platform, ads.twitter.com, also witnessed a decrease of 16.5%.
Interestingly, while X’s traffic seems to be on the decline, Elon Musk’s personal account on the platform has seen a staggering increase in popularity. Musk’s account witnessed a noteworthy 96% surge in followers and engagement compared to the previous year. This surge in popularity highlights the influence and draw of Musk’s personal brand.
Despite the signs of falling traffic, both Musk and X CEO Linda Yaccarino maintain that X’s usage is currently at record levels. It is worth noting that these claims have not been substantiated with concrete evidence.
As for the eagerly anticipated subscription plans, neither Musk nor X have provided specific details about the services or their costs. This lack of information raises curiosity and leaves users and industry watchers eagerly awaiting further announcements from the company.
In conclusion, Elon Musk’s announcement of two new subscription plans for X (formerly Twitter) has generated curiosity and speculation about the future of the platform. While offering new revenue streams and potentially enticing more users, X still faces challenges in terms of declining web traffic. The lack of specific details about the subscription plans further adds to the anticipation surrounding X’s next moves.
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