Twitter to take 10% cut on content subscriptions

Twitter Inc CEO, Elon Musk, said on Friday that Twitter will take a 10 percent cut on content subscriptions after 12 months, as the company looks to legitimatise content on the website in a bid to diversify its revenue sources.

Musk said earlier this months that the platform will offer subscriptions to content which will include long-form text and hours-long video.

He also said that the company will not take a cut for the first year on content subscriptions. Musk has been making changes to Twitter to boost revenue after the platform saw advertising income drop last year.

Musk also added that the company’s cut from subscriptions on iOS and Android platforms will drop to 15 percent in the second year of subscriptions from 30 percent in the first.