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Elon Musk, the CEO of Twitter, announced a groundbreaking new monetisation feature for news publishers on the popular social media platform.
Beginning next month, users can easily purchase individual articles via a single click - offering a huge boost for cash-strapped media outlets grappling with job losses and budget cuts due to current global financial turmoil.
Musk believes that this initiative will benefit both media outlets and readers. Consumers can directly compensate content providers for the articles they consume and publishers will receive fair payment for their hard work. This system gives users control over how much they spend on reading specific articles and publishers can offer premium content without requiring a monthly subscription.
Rolling out next month, this platform will allow media publishers to charge users on a per article basis with one click.
— Elon Musk (@elonmusk) April 29, 2023
This enables users who would not sign up for a monthly subscription to pay a higher per article price for when they want to read an occasional article.…
"Should be a major win-win for both media organisations and the public," Musk added.
Twitter also recently debuted the 'Monetisation' feature, which allows content creators from around the world to generate revenue through their posts. The company retains a modest 10% of the earnings during the first year, and after twelve months, the percentage drops even lower. This change ensures that creatives continue to profit from their efforts, encouraging them to invest time in developing quality material for the Twitter community.
Additionally, Twitter intends to increase transparency across its advertising network by introducing authenticity ratings called “Community Notes.” These annotations help users identify any discrepancies present in promotional messages, giving them the information they need to adjust their opinions accordingly. According to Elon Musk, this system helps keep Twitter become one of the most truthful digital spaces available today.
WORLDWIDE! Creators across the globe can now sign up and earn a living on Twitter.Tap on “Monetization” in settings to apply today.For a full list of available countries see our Help Center:
— Twitter (@Twitter)
"The goal is to make this platform maximum truth-seeking or, said another way, the least untrue compared to everything else," Musk said.
These updates come at a crucial moment for the social media industry, as there are mounting pressures for companies to address misinformation and fake news circulating online. Enhanced curation tools enable users to find reliable sources more quickly, improved options for publishers allow journalists to sustain themselves financially and better collaboration opportunities provide content producers with additional motivation to share original ideas worth discussing on Twitter.