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Twitter CEO Elon Musk will restructure the size and frequency of advertisements on Twitter. He plans to introduce a subscription model at a higher price that does not allow any advertisements for its users.
In a tweet on Saturday, Musk said, “Ads are too frequent on Twitter and too big. Taking steps to address both in coming weeks”. However, he has not shared any details on the price of the new subscription plan.
Since musk took over Twitter he has brought about several changes. One of the first changes was a structural change where he laid off several boards of directors and members of staff. This was followed by Musk’s introduction of Twitter Blue. a paid subscription that would give users a verified badge/blue tick on their accounts at the price of $8 monthly. This new subscription faced some backlash but what made headlines repeatedly after was the misuse of the subscription by scammers and impersonators.
Several scammers changed their user names to match public figures’ accounts and names and tweeted misinformation at the price of $8. These tweets had famous NBA players state they are leaving their teams, create accounts for celebrities who are not on social media and tweet as politicians about their hand in conspiracies and crimes like the 9/11 attacks and the O.J. Simpson trial. All this transpired after the introduction of Musk’s subscription plan which he had also intended to curb the spread of misinformation on the site.
Musk is also looking to change the micro-blogging sites’ sources of revenue. By diversifying the company’s business and moving away from the advertising revenue, Musk is looking to make the Twitter Blue subscription the primary source of cash flow for the company. At present, the company is facing losses in its ad revenue since several brands pulled back from Twitter due to their concerns with the moderation policies. On this Musk said he does not want Twitter to become a “free-for-all hellscape.”
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