Elon Musk, the CEO of Twitter Inc., said on Friday that the social media site will take a 10% cut of content payments after the first year. This is part of the company’s plan to monetize content on the website so that it can get money from more places.
Elon Musk, the billionaire owner of the social media platform, said earlier this month that users will be able to offer their followers subscriptions to material, such as long-form text and video that lasts for hours.
He also said that the company will not take a cut of material subscriptions for the first 12 months.
Musk has been making changes at Twitter to bring in more money. Last year, before he bought the company for $44 billion in October, advertising income on the site went down.
He also said that the company’s share of payments on iOS and Android will go from 30% in the first year to 15% in the second year.