Twitter customers can now apply to monetize their content material on the platform. In response to a brand new tweet by Elon Musk on Thursday, customers will now have the ability to cost others for entry to their content material. This content material contains video and long-form textual content alike.

Apply to supply your followers subscriptions of any materials, from longform textual content to hours lengthy video!

Simply faucet on “Monetization” in settings.

— Elon Musk (@elonmusk) April 13, 2023

“Apply to supply your followers subscriptions of any materials, from longform textual content to hours lengthy video!” Musk wrote within the tweet, including that customers can now to on the “Monetization” tab within the Settings on the platform. As soon as that’s achieved, customers can provide their followers subscriptions of their content material on the platform. For now, this characteristic is obtainable solely to customers within the US. When an person complained about it on Twitter, Musk replied that he was “engaged on it.” Moreover, for now, there is no such thing as a minimal frequency of manufacturing of content material required to supply subscriptions to different customers.

Musk added that Twitter won’t be conserving any of the cash on subscriptions for the following 12 months, and that customers will obtain 70% of the subscriptions on iOS and Android like (a charge of 30% is charged on each for the second). For the net, customers (and Twitter) will have the ability to maintain 92% of the subscription charge on the internet. After the primary yr, the charges charged on iOS and Android drop to fifteen%, and Twitter will add a “small quantity” on prime of that – the quantity will depend upon the quantity, Musk mentioned.

The social media platform will promote the content material of customers as nicely – in an effort to “maximize creator prosperity” and their earnings – and customers may have the chance to depart the platform at any level of time. This characteristic is predicted to be notably useful for creators who’ve constructed a loyal following on Twitter and wish to monetize their content material. By providing unique content material to subscribers, they’ll deepen their relationship with their viewers and enhance the engagement of their content material.

It additionally offers a possibility for brand new creator to begin constructing a following of their very own and producing revenue from their content material. And for Twitter, the characteristic has the potential to extend person engagement and retention. By providing creators the power to monetize their content material, Twitter can also be incentivizing them to create high-quality, unique content material for his or her followers.

Not solely will this appeal to new creators to come back to the platform, however it’s going to additionally assist Twitter diversify its personal income streams and cut back its personal reliance on promoting. If the transfer is profitable, then it’s going to remedy a lot of Twitter’s woes relating to income. It additionally comes at a time when many of the advertisers have jumped ship, though Musk just lately claimed that many of the advertisers have returned to the platform.