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Musk is monetising Twitter – and will pay creators more than YouTube

Elon Musk is – most likely – introducing the monetisation of all forms of content on Twitter now that he’s boss.

The multi-billionaire, who officially took over Twitter earlier last week, said this weekend that new content formats are coming, followed by a monetization model for creators. He added that Twitter plans to surpass YouTube’s current rate, which pays creators 55% of total ad revenue generated from their videos. 

I’m most interested in how this will affect web3 influencers and NFT creators on Twitter whose followings are growing by the minute. It situates the platform as the keyhole for web2.5 in a way and Musk’s decision to monetise on here goes hand in hand for NFT creators’ desires for decentralisation. 

Musk said there will be more information to share about monetization in two weeks. The comments came after he also announced Twitter “will soon add the ability to attach long-form text to tweets,” an addition he said will end the “absurdity of notepad screenshots.”

An updated app description for Twitter in the Apple App store that appeared Saturday also pointed to new features like longer-format video and “priority ranking for quality content.” The update included what appeared to be a rollout of Musk’s divisive authentication blue-check subscription plan, which will cost $7.99. 

“If twitter could handle the full-length feature videos that I produce and can offer a similar monetization system like YouTube does, I would consider uploading my full videos here too for sure,” Tim Dodd, the creator known as Everyday Astronaut, wrote on Twitter. 

Twitter currently offers two video-monetization programs “Amplify Pre-Roll” and “Amplify Sponsorships” for advertisers, according to its website.

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