Twitter will soon introduce a verification system for content creators on its platform. The company’s CEO, Elon Musk, announced this in a tweet on Saturday. In a tweet, Elon Musk said, “Twitter will start accepting applications for verification in a few weeks. A first wave of verifications will cost either $5 million or $5 million (INR 41 crore) to be paid in the first block.”
Musk further stated, “Note, payment will be required to verify the creators, and it will be refundable when the verified users engage in advertising.”
Linda Yaccarino is the New CEO of Twitter
Recently, Linda Yaccarino took charge as the new CEO of Twitter. Yaccarino previously served as the Chairman of Global Advertising and Partnerships at NBC Universal. She had also worked with Twitter as the Executive Vice President of Joe Benarroch, who remains a trusted advisor to Yaccarino.
Musk Gave Information About the New CEO a Month Ago
A month ago, Twitter’s owner Elon Musk tweeted, “Excited to welcome Linda Yaccarino as the new CEO of Twitter! Linda will primarily focus on business operations, while I will concentrate on product design and new technologies. Elon Musk’s reason is to focus more on Tesla and SpaceX.”
Twitter Allows Editing Of Tweets Within One Hour
On June 7th, the company introduced a new feature for Blue Tick users. With this feature, Twitter Blue subscribers can edit their tweets within a one-hour window. The company had initially rolled out the tweet editing feature in October 2022. After that, users were given a 30-minute time frame to edit their tweets
Content Creators Can Earn Money Through Twitter
On April 29th, Twitter tweeted from its official account saying, “Creators around the world can now sign up and earn money on Twitter. To apply today, tap on Monetization in your settings.” Only those creators with a minimum of 500 followers on their account can earn money through this feature. While for verified accounts, they must have been active for the last 30 days
Support Content Creators Worldwide
Commenting on Twitter tweets, Elon Musk said, “Support content creators worldwide! They are a vital source of entertainment for many people. With your support, they can dedicate more time to creating great content.”
How does Monetization Program Work for Content Creators?
On April 14th, Elon Musk tweeted that content creators can apply for a subscription offering for any long-form content, taking it from text to clock-long videos. Just tap on “monetization” in the settings. Twitter will not take any portion of the earnings from monetization for the next 12 months. However, Android and iOS will collect a 30% fee. This charge will come into effect after deducting the creator’s revenue. The web charge is approximately 8%.
After the first year, there will be a reduction of 15% in fees for iOS and Android. Apart from this, Twitter will add a slight fee based on its volume. Twitter will also assist in promoting your work.
Musk said, “Our goal is to enhance the prosperity of content creators. At any time, you can leave our platform and take your work with you. Simple inside, simple outside.”
The Price of a Blue Subscription for Web Users is 650 Rupees
In India, the cost of a Blue subscription service for Android and iOS mobile users is Rs. 900 per month. Web users can avail the Blue subscription service for Rs. 650 per month. Musk has requested Twitter to strengthen its financial position by the end of 2023. They have made changes to the Blue subscription service to increase revenue
Musk’s Four Big Decisions After Buying Twitter
CEO Parag Agarwal was fired
Elon Musk acquired Twitter for $44 billion on October 27, 2022. After the acquisition, Musk dismissed four high-ranking officials from the company. These include CEO Parag Agrawal, Chief Financial Officer Ned Segal, Legal Executives Vijaya Gadde and Sean Edgett. Following that, Chief Marketing Officer Leslie Berland, Chief Customer Officer Sarah Personette, and Vice President of Global Client Solutions Jean-Philippe Maheu were also included.
More than 50% of Employees were Laid Off
Elon Musk laid off more than 50% of Twitter’s 7,500 employees. Afterwards, he emailed the remaining employees to stay with the company through an ultimatum. In the email sent to the employees, Musk wrote, “Employees will have to work very hard to make Twitter 2.0 successful.” At the same time, he emphasized the need for long hours of work and high productivity to achieve success
The email stated that employees who are interested in becoming part of the company should click on the provided link and select ‘Yes.’ Those who do not do so will receive a notice of termination in three months. You are appreciated for your efforts in making Twitter successful, regardless of your decision. Following this email, many employees chose to resign.
Trump was Suspended from Twitter
In November 2022, Musk reinstated former US President Donald Trump’s Twitter account. He conducted a poll on Twitter regarding Trump’s return. He asked whether President Trump’s account should be reinstated or not. More than 15 million users participated in the poll, with 52% of people responding ‘Yes.’
Blue Subscription Service
Elon Musk has launched the Blue subscription service worldwide. In India, the cost of the Blue subscription service is Rs. 900 per month for Android and iOS mobile users. Web users can avail the Blue subscription service for Rs. 650 per month. The announcement of this service was made by Elon Musk on Tuesday night, five days after the acquisition of Twitter on October 27.
Twitter’s decision to compensate content creators through an advertising program marks a significant step towards recognizing and rewarding the invaluable contributions made by these individuals. The initiative is expected to enhance the overall quality and diversity of content available on the platform. By providing financial incentives, Twitter aims to foster a stronger creator community and ensure that creators can continue to produce engaging and informative content. This move is aligned with Twitter’s commitment to supporting its users and maintaining a dynamic and thriving social media platform.