First Plans for Twitter đź“ł

First Plans for Twitter

Elon Musk has started to unveil his first business plans for Twitter in what looks to be an effort to remodel and revitalize the company under his vision. It’s an interesting one, and it’s something that will be new to the social media space although it is quite common in the service industry. Musk dislikes the fact that 90 percent of Twitter’s sales rely on digital ad dollars, which is how most social media companies operate. Because of this, he is looking to implement an $8-per-month subscription for verified users among other ideas to get additional revenue for the company. To incorporate this, Musk said he would also look at the verification process, something he has had a strong hate for. There’s a possibility Twitter looks to apps like LinkedIn for examples of a “Premium” subscription, which has been successful. This is especially important because companies are already pausing their digital ad spend on Twitter because of uncertainty regarding the platform, and this looks like it’ll be bigger than financials.

Companies are uncertain about the future of Twitter due to the surge of hate speech and political instability in the app, and it comes to a point where the ad dollars aren’t efficient enough in bringing sales and traffic to a business. However, Musk is a proponent of the free speech aspect of the platform, so the timing of this announcement from him seems to conveniently send a message. He will find other sources of revenue to uphold the values he wants to hold on the platform, and a switch in the business model is not out of the question.

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