In a recent live discussion with Israeli Prime Minister Benjamin Netanyahu, the Elon Musk revealed plans to implement a "small monthly payment" for users of social media platform X, formerly known as Twitter. Musk suggested that the move toward a subscription-based model could be an effective strategy to mitigate the bot issue plaguing the network.
Musk pointed out that bots are inexpensive to create, costing merely a fraction of a penny. However, if each bot had to pay a few dollars every month, the cumulative cost for bot creators would become significant, discouraging mass bot creation. Furthermore, each new bot would require a separate payment method, adding another layer of complexity and cost for bot creators.
The move toward subscriptions on X(Twitter) could be seen as a response to the increasing number of bots and spam accounts that are flooding social media sites. It is estimated that nearly 10 percent of all Twitter accounts are automated, which can result in a flood of inappropriate content targeted at users. Musk believes that charging for access would help limit the presence of bots and create a more secure environment
While Musk didn't specify the exact amount for the proposed subscription, he described it as a "small amount of money." In addition to discussing the potential subscription model, Musk also provided updated metrics for X(Twitter), which now boasts 550 million monthly users generating between 100 to 200 million daily posts.
However, Musk did not clarify whether these figures included automated accounts, such as news feeds or spammers. Neither did he provide a comparison with Twitter's user base before his takeover, which was measured by the metric known as "average monetizable daily active user".
Since Musk's acquisition of the platform, X(Twitter) has been promoting its premium subscription service, X Premium, previously known as Twitter Blue. Priced at $8 per month or $84 per year, this service offers features such as post editing, reduced ad load, prioritized rankings in search and conversations, the ability to write longer posts, and more.
Though the exact number of X(Twitter) Premium subscribers remains undisclosed, independent research suggests that it hasn't attracted a majority of X users, with one analysis estimating only around 827,615 current subscribers.
Musk's idea to charge all users for using X(Twitter) isn't exactly a novelty. Reports last year suggested that Musk was considering putting the entirety of Twitter behind a paywall.Musk remained tight-lipped about the timeline for the proposed subscription model implementation. However, this move signals a significant shift in the social media landscape, with one of the giants contemplating a departure from the conventional ad-based revenue model.
This announcement has sparked a significant reaction from the user base, with numerous individuals threatening to delete their accounts if the proposed 'small monthly payment' comes into effect. So let's see if Musk's subscription model does become a reality in the near future and how it affects the global user base. Until then, we wait with anticipation as speculation continues to build around this news.