Twitter targets more revenue with creator subscriptions and 10,000-character tweets
What's the story
The dust of Elon Musk's interview with BBC has settled, and Twitter is back in business with the announcement of two new features.
Musk took to Twitter to announce the introduction of a feature that will let users of the platform offer subscription to their followers.
The company has also increased the number of characters of long-form tweets to 10,000.
Context
Why does this story matter?
During a recent BBC interview, Musk said Twitter is barely breaking even. The CEO has been searching for new revenue sources for the company since the exodus of advertisers.
Although he said advertisers are coming back, reports suggest that Twitter will see a steep fall in ad revenue this year.
The company would be hoping the new features make it more attractive to creators.
Subscription
Creators can offer subscriptions to followers
Twitter has been targeting creators since Musk's acquisition of the company. Earlier this year, Musk announced Twitter would share ad revenue with creators who are Twitter Blue subscribers.
That is yet to happen, though. Now, Musk has announced creators can offer subscriptions to followers.
All they have to do is click 'Monetization' in settings and apply for the program.
Revenue
Twitter will take no cut for the first 12 months
Creators will get 70% of the money they make for the first 12 months. Musk said 30% would go to Apple or Google as their cut.
Post 12 months, the Apple/Google cut will reduce to 15% and Twitter will take a small fee.
Twitter will also promote creators' content, Musk said. They will also have the option to leave Twitter with their content.
Twitter Post
Musk offers creators 'easy in, easy out'
For the next 12 months, Twitter will keep none of the money.
— Elon Musk (@elonmusk) April 13, 2023
You will receive whatever money we receive, so that’s 70% for subscriptions on iOS & Android (they charge 30%) and ~92% on web (could be better, depending on payment processor).
After first year, iOS & Android fees…
Information
Creator monetization program is only available in the US
Twitter's creator monetization program is only available in the US at the moment. It is unclear when the feature will reach other parts of the world. Users have to be at least 18 years old to be creators. They also need 10,000 active users.
Long-form
Twitter increases the character limit of long-form tweets to 10,000
Twitter does not just want to attract creators. It also wants to challenge Substack, the popular newsletter platform.
To take on Substack, the company has increased the character limit of long-form tweets to 10,000. It was only in February the company introduced 4,000-character tweets for Blue subscribers.
The ability to tweet 10,000-character-long tweets is also only available to Blue subscribers.
Twitter Post
Long tweets are only available to Blue subscribers
We’re making improvements to the writing and reading experience on Twitter! Starting today, Twitter now supports Tweets up to 10,000 characters in length, with bold and italic text formatting.
— Twitter Write (@TwitterWrite) April 14, 2023
Sign up for Twitter Blue to access these new features, and apply to enable…