Subscription, built-in currency… How Twitter is trying to replenish its coffers after the Elon Musk acquisition

Twitter accounts are at their worst, and Elon Musk seems ready to do anything to rectify the situation. After taking over the famous social network last October, the boss of Tesla and SpaceX has committed to improving the accounting of the platform for which he paid $44 billion – and which runs, at any moment, towards bankruptcy.

To bail out the company’s coffers, which it accuses, according to musk4 million dollars lost every day, Twitter designed – or considered – several programs to pocket a few dollars from its users, and make the platform more attractive to its advertisers.

Towards “Coins” to reward the best tweets

Latest project: a single currency for Twitter. Social network employees are currently working on “Coins”, (“coins” in French), an internal monetary system that would allow Internet users to pay “creators who tweet good content”, we read in a statement. Monday by hacker Jane Manchun Wong, used to new app revelations in Silicon Valley.

These digital coins will allow you to buy “Awards” online, that is, rewards, worth one coin for a “Mind Blown” award and up to 5000 coins for a “Mind Blown” award. Gold”. These coins can be purchased through the Stripe payment system, explains the hacker. The Chinese hacker, however, does not explain how much the famous “Coins” will cost in dollars, nor when this new option will be launched.

Twitter Blue, a controversial signature

Launched this winter, Twitter Blue, the platform’s paid subscription system, allows users to have a small blue badge of certification for eight or eleven dollars a month. Initially launched in November, the program had some hiccups: during the first test, several jokers hijacked the certification system to imitate official accounts of brands or companies and publish false information or controversial images.

Reworked, Twitter Blue resumed in December. In addition to certification, it allows subscribers to organize tweets in folders, customize the theme, icons and navigation, and transform topics into more readable formats. For now, it’s only available in the US, UK, Canada, Australia, New Zealand, and Japan. “We are also working on a new service, Twitter Blue for Business, dedicated to companies on Twitter and which allows them to have a gold badge on their official accounts”, specify the platform.

An aggressive advertising policy

Spooked by Twitter’s new moderation rules, many companies (General Motors, Chipotle, Ford, Jeep, Volkswagen, Merck & Co or even Novartis) that bought ads on the platform have turned their backs on it this winter, leading to significant revenue declines. . A huge loss for the social network’s revenue, which, before the arrival of Elon Musk, depended 90% on ads in 2021.

Consequence: in early December, the company was forced to carry out a massive operation to seduce advertisers, offering to double the value of their advertising expenses, reports the Wall Street Journal. To raise more revenue, Twitter announced in early January that it will allow the return of political ads, allowing elected officials or activist groups to pay for content that promotes their cause. The practice, however, was banned in 2019, when several social networks were accused of spreading false information that influenced election results.

Paid videos on hold

According to internal emails obtained by The Washington Post, Twitter was also working this winter on “Paywalled Video,” a feature that pays to watch certain videos. Four tariffs have already been fixed: 1 dollar, 2 dollars, 5 dollars and 10 dollars.

The project, which would be born after the acquisition of the platform by Elon Musk, however, has not been mentioned since November. In internal discussions consulted by the American daily, Twitter employees already pointed out that it was a highly sensitive project: such an option could encourage the publication (already authorized, but limited) of adult content, or works protected by copyright. It can also promote scams.

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