X has paid $20M to creators, says CEO Linda Yaccarino
What's the story
Social media giant X, formerly known as Twitter, has dished out a whopping $20 million to creators since launching its revenue-sharing program in July.
X's CEO Linda Yaccarino has shared this news, emphasizing the platform's dedication to helping creators thrive financially.
To join the program, users need at least 500 followers and five million tweet impressions in the past three months. Once in, they can earn a slice of the ad revenue generated from ads in replies to their posts.
Twitter Post
Take a look at Yaccarino's post
Create. Connect. Collect all on X. We’re enabling the economic success of new segments like creators. And so far we've paid out almost $20 million to our creator community. https://t.co/kk137uPkAo
— Linda Yaccarino (@lindayaX) September 29, 2023
Details
X Premium is key component for creator earnings
To cash in on X's creator revenue-sharing program, users must sign up for X Premium, previously called Twitter Blue.
This subscription service offers cool perks like fewer ads and exclusive content access.
By joining X Premium, creators can make money from their content and use their following to rake in some dough. The growing payouts hint at more creators hopping on board or higher ad impressions.
Scenario
Program incentivizing user engagement, conversation
X's revenue-sharing program motivates creators to spark conversations and boost user engagement by rewarding replies to their tweets.
While this might lead to more interaction on the platform, it also raises eyebrows about extreme emotions driving engagement, similar to what we have seen on Facebook.
However, the program does give creators a chance to monetize their content and create a more interactive community on X.
Insights
X closing monetization gap with competing platforms
In the past, creators found it tough to make money from their Twitter following compared to platforms like YouTube, which has shared ad revenue through its partner program for over a decade.
But with X's revenue-sharing program and X Premium subscription service, creators now have a legitimate way to earn from their content.
This move could lure more creators to the platform and increase user engagement across the board.