Elon Musk said on Tuesday that Twitter Inc (TWTR.N) may charge a “slight” price for commercial and government users, as part of the billionaire entrepreneur’s attempt to increase income, which has trailed behind larger rivals like 11Meta Platforms Inc’s (FB.O) Facebook.
“Twitter will always be free for casual users, but maybe a slight cost for commercial/government users,” Musk said in a tweet. In yet another tweet, he said, “Some revenue is better than none!”
When approached by Reuters, Twitter declined to comment.
According to Reuters, Musk told banks last week that in order to save costs at the social media platform company, he would create new ways to monetize tweets and tighten CEO pay.
According to Reuters, Musk also told the banks that he hoped to build features to increase corporate revenue, such as new ways to monetize tweets that contain significant information or go viral.
Musk remarked at the annual Met Gala in New York on Monday that Twitter’s reach is now “niche,” and that he would like a much larger percentage of the population to be on it. more info
Musk, who is also the CEO of top electric vehicle manufacturer Tesla Inc (TSLA.O), has been advocating a slew of changes to Twitter since last month.
Musk proposed modifications to the Twitter Blue premium subscription service in tweets that were later removed, including lowering the price, prohibiting advertising, and allowing users to pay in the cryptocurrency dogecoin.
Musk stated after agreeing to buy Twitter for $44 billion last week that he wants to improve the site with new features, open-source the algorithms to build trust, combat spambots, and verify all humans.
