Elon Musk, the company's owner, said that X, formerly known as Twitter, is planning to launch two new subscription tiers in an effort to improve revenue streams and user experience.
According to CNBC, the social media site X, formerly known as Twitter, will be undergoing additional changes that will affect users all over the world. In order to give users a more specialized social media experience, Elon Musk has announced plans to introduce two distinct subscription tiers.
Two new tiers of X Premium subscriptions launching soon.
One is lower cost with all features, but no reduction in ads, and the other is more expensive, but has no ads.
— Elon Musk (@elonmusk) October 20, 2023
“One tier will be lower cost with all features, but no reduction in ads,” Musk stated. The other tier, on the other hand, is meant to be a premium option that is “more expensive, but has no ads,” giving users a continuous, ad-free browsing experience.
The launch of the new subscriptions is regarded as a crucial step towards creating new revenue streams and guiding the business towards financial stability. Musk disclosed that the platform has been dealing with financial difficulties, as evidenced by a sharp decline in advertising revenue and an ongoing situation of “heavy debt.”
- U.S. Employment Costs Surge
- UAW Strike to End Following Tentative Deal with General Motors
- Prices for Goods and Services Increase Beyond Expectations
- GDP Soars 4.7% Thanks to Rise in Consumer Spending
- New Home Sales in the U.S. Rise Amid Skyrocketing Interest Rates
- Reports: X/Twitter Shrinking Worsens Following Rebranding
- Reports: Amazon Testing Humanoid Robots for Warehouse Operations
- Elon Musk’s X/Twitter Announces Subscription Tiers