Following the acquisition of Twitter Incorporated by Elon Musk, reports have emerged that the company is planning to impose $20 a month on all verified accounts to expand its revenue generation.
The report added that verified accounts will have 90 days to subscribe to the new policy or lose their privileged blue checkmark.
Prior to the acquisition, Elon Musk had disclosed that he will rejig the twitter verification process. On Sunday, he wrote on his Twitter account “The whole verification process is being revamped right now.” Musk has also given himself the title “Chief Twit”.
Investors King learnt that the blue checkmark presently has a subscription plan of $4.99 a month. This means the price will quadruple if the increase is officially implemented.
The report also added that if the new policy is implemented, it could allow anyone that is not verified to easily get verified without meeting the usual criteria which include being active on the Twitter platform.
As expected, the report of a $20 monthly subscription for verified accounts has been generating mixed reactions among Twitter users.
Although Twitter verification comes with some exclusive privileges which include the opportunity to edit tweets and upload videos with better quality, a number of users who are presently verified have suggested that they would rather take the humble pie and get unverified than expend $20 a month on the blue checkmark.
The blue checkmark is seen by some as a status symbol among the users of the platform. To qualify for the privilege, accounts must be “notable, authentic, and active.” However, accounts of government officials; people representing prominent brands; news organisations and journalists; activists; celebrities; athletes, and others are activated based on status.
Meanwhile, it has also been reported that Elon Musk is planning to lay off several middle managers and engineers who are not significantly contributing to the operation of the company in recent times.
According to a report released by Verge, the layoff is expected to begin this week with managers already creating lists of employees to cut.
