Elon Musk to impose monthly fees on all X platform users
The move comes as the company struggles to regain trust with advertisers.
Elon Musk announced, on Monday, his intention to introduce a monthly subscription fee for all users of his social media platform, X (formerly known as Twitter).
The remarks were made during a live-streamed event on X with Israeli occupation's Prime Minister Benjamin Netanyahu who urged Musk to practice more censorship on X under the guise of "antisemitism".
This decision comes at a time when the company is grappling with rebuilding trust with advertisers.
Earlier this month, Musk disclosed that Twitter's advertising revenue in the United States had experienced a 60% decline. He attributed the company's advertising difficulties to the influence of civil rights and consumer organizations pressuring major brands.
It is worth noting that only a few social networks operate exclusively on a subscription-based model, although more are experimenting with subscription offerings, most notably in the face of a sluggish advertising market.
Data indicate that the adoption of Premium X, formerly known as Twitter Blue, was sluggish earlier this year. According to a third-party estimate cited by Mashable in May, approximately 640,000 to 680,000 individuals had subscribed to Twitter Blue by the end of April.
Twitter initially introduced Twitter Blue in 2021, and Elon Musk made significant changes to the subscription program in November, including raising the price and making alterations to some features. Notably, Musk modified Twitter's verification system to restrict verification to paid subscribers only.