Elon Musk

<p data-beyondwords-marker="d39e3774-232f-4bd1-bea6-d28c560d802e">Elon Musk’s social media platform X, formerly known as Twitter, is set to introduce two new premium subscription tiers, according to a recent announcement by the billionaire on the platform. One tier will offer all features at a lower cost but without ad reduction, while the other, more expensive tier will provide an ad-free experience. </p> 
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   <p lang="en" dir="ltr">Two new tiers of X Premium subscriptions launching soon. <br><br>One is lower cost with all features, but no reduction in ads, and the other is more expensive, but has no ads.</p>— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1715249746753794305?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">October 20, 2023</a>
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<p data-beyondwords-marker="53d8e952-e528-4baf-b343-ac113738c7cf">While details on these plans remain sparse, the move is coming at a time when X is beginning to charge new users <a href="https://www.bbc.co.uk/news/business-67141993" target="_blank" rel="noopener">$1 in New Zealand and the Philippines</a> for platform access. Those new users who decide against subscribing will only have “read-only” access, allowing them to read posts, watch videos, and follow accounts. </p> 
<p data-beyondwords-marker="544aa274-3936-43c9-9304-68fe2672af5b">Elon Musk has long believed that charging for the service is a solution to combat bots and fake accounts on the platform. Thu, he’s been pushing for enhanced paid services, now referred to as X Premium, to incentivize users. He’s also been actively courting advertisers back to X with special offers. For instance, some users have been paying $8 per month for the blue-check subscription service.</p> 
<p data-beyondwords-marker="c4761b2c-37c3-4088-97dd-712fb8c214c7">Furthermore, X recently introduced its “Not A Bot” subscription method aimed at reducing spam, manipulation, and bot activity. However, Elon Musk’s rapid changes in managing the platform, including massive layoffs and the disbandment of content moderation teams, have led to advertisers pulling their ads from the platform. Musk acknowledges that X’s revenue has been impacted and has blamed activists for pressuring advertisers.</p> 
<p data-beyondwords-marker="88647488-93ab-483a-9f89-af470c78ee74">This development showcases X’s efforts to diversify its income streams as it faces competition from other players like Meta’s Threads and Bluesky while undergoing significant rebranding and restructuring since Elon Musk took over in October 2022.</p> 
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<p data-beyondwords-marker="f8b4e904-bb26-4716-8f9f-837539b495d4">Read also: <a href="https://technext24.com/2023/09/22/twitter-removing-its-circles-feature/">X/Twitter is removing its Circles feature by October 31</a></p> 
<h4 id="what-the-new-subscription-tiers-mean-for-influencers" data-beyondwords-marker="48d111f6-684f-40dc-adae-ad29d3d1048e">What the new subscription tiers mean for influencers</h4> 
<p data-beyondwords-marker="970d842e-711b-41b8-9847-d28172668653">Mr Musk’s announcement of X’s two new premium subscription tiers brings to the fore a wave of speculation about how these changes might impact advertisers and influencers on the platform. With this latest development, it is clear that X is actively exploring alternative revenue streams and attempting to address revenue challenges that have resulted from changes implemented under Musk’s leadership.</p> 
<p data-beyondwords-marker="55b3ff3b-f31b-45dd-96a3-4d5938bcfd1d">Influencers on X may experience both benefits and challenges with the introduction of premium subscriptions. The platform’s previous subscription offering, the X Premium service, provided a blue checkmark for authenticity and additional features coupled with revenue sharing, creating an incentive for users to pay. Influencers who have been part of this program enjoyed a distinct advantage.</p> 
<p data-beyondwords-marker="bf17ef0b-9ac9-40ef-94bc-cf36c00c59df">The two new subscription tiers raise questions about the future of influencer marketing. While one tier could potentially make the platform more attractive to influencers if it brings in more users, the potential reduction in ad revenue might affect the overall ecosystem, including influencers.</p> 
<p data-beyondwords-marker="655f1756-cefe-4312-96c9-8422f818665f">However, if X can increase its subscriber numbers by promoting its premium offerings, this could result in a more involved user community. This, in turn, would provide influencers with a better platform to connect with their audience. As a result, there could be a change in the way advertisers and influencers work together.</p> 
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<h4 id="for-advertisers" data-beyondwords-marker="9daf1b1d-17f8-4939-84d8-1a1cf520d0db">For advertisers</h4> 
<p data-beyondwords-marker="bd518128-0bea-4575-b5b7-d46740ef1149">Advertisers have had a complicated relationship with X under Musk’s reign. The platform has experienced a significant drop in advertising revenue, partly attributed to drastic measures such as <a href="https://www.cnbc.com/2023/05/26/tech-companies-are-laying-off-their-ethics-and-safety-teams-.html" target="_blank" rel="noopener">cutting trust and safety teams</a> and disbanding content moderation. With advertisers becoming more cautious, Musk aims to lure them back with special offers and discounts.</p> 
<p data-beyondwords-marker="24adb1f0-dd6e-4466-b213-430ece473196">While one of the new premium subscription tiers promises an ad-free experience, there is an evident challenge for advertisers in this scenario. If users opt for the ad-free version, it could mean a shrinking audience for ads. </p> 
<p data-beyondwords-marker="7839adb8-a267-4408-a399-404e5981dd62">However, the tier offering all features but also featuring ads may present opportunities for advertisers. Depending on the cost and the number of subscribers, this option could provide a highly targeted advertising platform, which defies the original idea of Twitter (X).</p> 
<p data-beyondwords-marker="d55b9eb6-c9d5-425a-9c1a-ed1e2193f969">Read also: <a href="https://technext24.com/2023/09/19/elon-musk-plans-all-users-pay-to-use-x/">Elon Musk plans to make everyone pay to use X (Twitter)</a></p> 
<p data-beyondwords-marker="34f82fb5-d356-43c7-b7ef-4ab6928c9055">To retain or attract advertisers successfully, X needs to strike a balance between monetization and maintaining a user base substantial enough to make advertising worthwhile.</p>

What Elon Musk’s new X subscription tiers mean for influencers and advertisers

Technext.ng

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