Technology Elon Musk is planning to make X a subscription only service

[vtqhtr413]

Content source

https://www.neowin.net/news/elon-musk-is-planning-to-make-x-a-subscription-only-service/

Elon Musk has been making drastic changes to X (formerly Twitter) since he took over the service last year. After the introduction of X Blue premium membership, it looks like Musk is planning to make X a subscription only service. Elon Musk recently sat down for a discussion with the Israel’s prime minister Benjamin Netanyahu (via Deadline) where he suggested making every user pay a small monthly fee to use X. He further said that this is still in discussion so there is no word on when he plans to roll out the subscription only model.

Musk also noted that the subscription will cost less that X Blue membership that is currently offered as a perk to users and comes with additional features as well as a verified checkmark. We’re wanting it to be just a small amount of money. It’s a longer discussion, but in my view this is the only defense against vast armies of bots, because as AI gets very, very good, it’s actually able to pass these sort of CAPTCHA tests better than humans.

Musk believes that subscription only model will remove bots from the platform as AI is getting smart enough to be able to pass CAPTCHA tests. In the same discussion, Musk also addressed the free speech issue that has been a cause for concern lately on the platform.

 

[Imranmt]

In an effort to combat bots, Musk says the company is moving to having a small monthly payment for access.

Online platform X, formerly known as Twitter, could introduce a monthly fee for all users, its owner Elon Musk has said, citing the need to cut down on bots.

The tech tycoon has made multiple changes since taking over the site for $44bn in October last year.


He has fired thousands of employees, introduced a paid premium option, cut content moderation and reinstated formerly banned accounts, including that of former United States President Donald Trump.

In July, he said the platform had lost roughly half its advertising revenue.

Bots – accounts run by computer programs rather than humans – are common on X, where they can be used to artificially amplify political messages or racial hatred.

During a talk with Musk on Monday, Israeli Prime Minister Benjamin Netanyahu raised the question of online anti-Semitism and how X could “prevent the use of bots – armies of bots – to replicate and amplify it”.

Musk replied that the company was “moving to having a small monthly payment for use of the X system”.

“It’s the only way I can think of to combat vast armies of bots,” he said. “Because a bot costs a fraction of a penny – call it a tenth of a penny – but if somebody even has to pay a few dollars, some minor amount, the effective cost of bots is very high.

“And then you also have to get a new payment method every time you have a new bot.”

Currently, X Premium costs $8 a month in the US but charges depend on which country the user is in.

 

[mlnevese]

He bought a sinking company for 10x its value. Is anyone surprised he's desperately trying to monetize it?

 

[Digmor Crusher]

He's determined to bankrupt this company isn't he? Wouldn't hurt my feelings.

 

[CyberTech]

Social network X, previously known as Twitter, may soon offer more than one subscription tier. Code in the app suggests that the Premium offering could be split into three, including Premium Basic, Premium Standard, and Premium Plus.

Premium basic lists "full ads" in the For You feed, while Premium Standard says it has "half ads" in For You. Premium Plus says there will be no ads in For You. Given the specific mention of the For You feed, it sounds like all of the tiers will continue to have ads in replies. Revenue from reply ads is used for paying content creators on the social network.



At the current time, a Premium subscription is priced at $8 per month or $84 per year, and there is no word yet on what the new tiers might be priced at. There are also no other details on the differences between the plans or launch information.

Twitter May Be Planning to Add More Premium Tiers

Social network X, previously known as Twitter, may soon offer more than one subscription tier. Code in the app suggests that the Premium offering...

www.macrumors.com

 

[CyberTech]

• Elon Musk is planning to introduce a monthly subscription fee for using X (formerly Twitter).
• The new plan will be cheaper than the current X Premium service and will offer a variety of features, such as ad-free browsing, undo tweet, and custom themes.
• Musk said that he wants to make X more accessible and affordable for everyone, while also generating revenue for the company.
• X is reportedly testing three different tiers of subscription: Basic, Standard, and Plus.
• Users who do not want to pay for any subscription will still be able to use X, but with limited functionality and more ads.
• Musk's decision to charge for X has sparked mixed reactions from users and experts.

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[monkeylove]

He bought a sinking company for 10x its value. Is anyone surprised he's desperately trying to monetize it?

According to their financial reports, it was losing from the start, and when it earned big, it also lost big.

I think the ones who valued it included his fellow co-owners, including Wall Street banks. It looks like he accepted the higher valuation because that was the only way they would sell, and they did. This time, he did not bring in other investors because they would be the same former owners.

Meanwhile, before he bought it, Reuters reported that advertisers were pulling out because of child porn.

Given that, I'm guessing that he bought it and rebranded it "X" is because he's reviving a plan he had back in the 1990s to form a financial platform called that. But this time, it looks like he's creating a multi-function platform involving social media, photos, video, audio, financing, and commerce. Meanwhile, he brought in a CEO that works with the WEF and the advertising industry. (It's even possible that the company might even create its own ad agency.)

Meanwhile, Meta and others appear to do similar. Before that, they all overvalued themselves, hoping to earn from investments coupled with advertising, which has gone in decline. That's why they're focusing on subscription to cover operating costs plus work with economic blocs demanding privacy, minimize 'bots, deal with problems concerning copyright, etc.