Last Updated: October 20, 2023, 15:11 IST
Elon Musk is on a mission to make X (formerly Twitter) earn money and subscription seems to be his best bet. Musk had announced during a recent live video that X will get different premium tiers which will be necessary for people to use the platform.
Now, he has shared more details about these tiers of X Premium subscriptions that will be launching soon. He explains that the low-cost X Premium plan will come with all the features but you will continue to see ads. The other X Premium plan will cost a lot more but remove all the ads from your X feed.
X is clearly hoping for interest from millions and it does feel like Musk realises that some money coming into the company is better than nothing, i.e. free to all platforms. Does that mean X will not be free to anyone, and those using the platform will have to pay a small fee at least? Going by Musk’s recent statements, that seems to be the plan which is unlikely to please many and forcing them to pay and still showing them ads might not be the best plan from Musk and Co.
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
Musk’s reasons for bringing this drastic change are linked to the massive bot influx on X, which he believes when people are asked to pay for the service will reduce the influence of bots on the platform. He did mention that, unlike the X Premium subscription, the platform will have a lower tier pricing for all the users which is slowly coming into the picture. We still don’t know how much the low-tier plan will cost but reports say it could be around $1 (Rs 83 approx).
There is no doubt that X has never been on the green side of profits, in fact, Musk has reportedly claimed that the company has seen over 50 per cent drop in revenues because of limited ads and the heavy debt owed by the previous management.
When you put all these pieces into the puzzle, the story becomes a lot clearer and fair play to Musk who has put a staggering $44 billion of bank-funded money to finance this deal in 2022 to buy Twitter.