The gag of the week is that only 25 users are willing to pay for a blue tick certification on Twitter after Musk got rid of authentic verification. In addition to this move, Musk is now making $1.2 million a year from his new subscription feature.
Last Tuesday Musk posted about the feature writing “Content creators may wish to enable subscriptions on this platform. Just tap on Monetization in settings,” posting a screenshot showing the relevant links. The screenshot Mr Musk posted shows he has 24,700 subscribers. According to the revenue breakdown posted on Twitter website, the cost of the subscription is $4.99 per month for subscribers in the US. After the deduction of app fees and Twitter’s revenue share, a creator gets $3.39.
To further tempt users to make use of the function, Musk had announced earlier that Twitter won’t keep any of the money users earn from their monetised content for the next 12 months.
Angel investor Alex Cohen did the maths and tweeted that with each subscriber paying him $4 a month, the Twitter CEO is generating around $1.2 million a year “in passive income”.