SOCIAL MEDIA
What is Elon Musk’s new plan for X that will charge users $1?
A huge change is coming to X, formerly known as Twitter, that will surely shatter its user-base: the beginning of a dollar subscription to post.
New X, formerly Twitter, users in New Zealand and the Philippines will be surprised to find out today that they need to pay to access the platforms most important features. New policy from X means new users will pay a $1 yearly charge for this in a test that is widely expected to be rolled out worldwide.
The company has posted new policy guidance on its website.
“This new test was developed to bolster our already significant efforts to reduce spam, manipulation of our platform and bot activity,” the policy reads. “This will evaluate a potentially powerful measure to help us combat bots and spammers on X, while balancing platform accessibility with the small fee amount. Within this test, existing users are not affected.”
Paid aspects of the fundamental Twitter model have been expected for some time.
“[We’re] moving to a small monthly payment for use of the X system,” X controller Elon Musk told Israeli Prime Minister Benjamin Netanyahu last month, claiming it would end the problem of bots on the site.
What does this mean for the future of X?
A move to a subscription to even post would undoubtedly remove a large chunk of the user base that would simply not be willing to pay for a service that has been free since its inception. Though the cost is minimal, having a cost itself is a major barrier. Furthermore, with consumers more and more aware of online privacy, giving their personal details away is a big risk. This is even more true considering the data X wants to store.
A reduction in the number of user would also damage the funds gained from advertising, though this revenue stream has dried up in 2023. Since Musk took over at the end of last year, the company has lost half of its advertising revenue.
These issues have not come in isolation as the company has seemingly lurched from one crisis to another. From 80% of the staff being fired to run-ins with rights organisations over a large increase of anti-semitism on the platform, it is no wonder that advertisers are flocking away from X.
According to Musk, X has 550 million monthly active users, who create 100 million-200 million posts daily on the social network.