Content creators across the globe can now earn a living on Twitter after the company’s CEO Elon Musk disclosed that they can now monetize their content.
Twitter via a tweet, disclosed that content creators can enable the monetization feature by clicking on the settings option to apply.
The subscriptions feature will allow Twitter users to charge their followers a monthly price from one of the price points made available by Twitter. Once it is paid, subscribers can then access the creator’s exclusive content which is not viewed by the public.
Reports reveal that Twitter will allow creators to keep 97% of the revenue up to $50,000 in lifetime earnings, after which the revenue split will be dropped to 80% for creators.
In a bid to ensure the smooth payment of creators, Twitter has partnered with financial services giant Stripe to ensure a seamless payout.
Recall that Musk had also announced via his Twitter account that the company would begin sharing ad revenue with content creators on the platform. He said creators will get paid for the ads that show up in the replies to their tweets.
Creators will however have to pay Twitter $8 per month to have a chance at receiving a share of the ad revenue. Twitter however warned that the subscription services are nonrefundable even if a creator’s account gets suspended.
In such cases, users are required to manually unsubscribe to avoid auto-monthly payments to inactive Twitter accounts.
Investors King understands that since Musk took over from the company in October last year, he has been seeking for ways to increase the platform’s revenue, as well as bring more creators to the platform. Musk also has plans to introduce newsletters and other Twitter features in the future.
Among his other goals, Musk expects the social media company to bring in $15 million from a payments business in 2023 that will grow to about $1.3 billion by 2028. He also expects Twitter to have 11,072 employees by 2025, up from around 7,500.
Concerning the company’s workforce, he aims to hire about 11,072 employees by 2025.