Investor, billionaire and new Chief Twit Elon Musk said in a tweet on Saturday that Twitter Blue is likely to “come back end of next week.”
On Friday, Twitter paused its newly announced $8 blue check subscription service as fake accounts of major brands popped up in multiple numbers.
The prestigious blue check verification was earlier reserved for verified accounts of famous personalities, journalists, politicians and other well known public figures. But since its monetisation, which is open to anyone who pays for it monthly, was rolled out in the beginning of this week to enable Twitter revenue to boost as Musk fights to retain advertisers, who have been wary of the new Twitter regulations since Musk’s takeover in a $44 billion deal last month.
It was reported by many users on Friday that the new subscription option for the blue verification check mark had vanished, while a source told Reuters that the offer has been temporarily dropped and it will be reconsidered with necessary amendments.
Twitter’s support account – which has the “official” tag – “To combat impersonation, we’ve added an ‘Official’ label to some accounts,” tweeted on Friday.
The label was originally launched on Wednesday – but “killed” by the CEO just a few hours post introduction.
In his first companywide email on Thursday, Musk cautioned the Twitter staff that the company would not be able to “survive the upcoming economic downturn” if it could not succeed in boosting subscription revenue to make up for the falling advertising income. This was reported to Reuters by three people who saw the message.
While the company’s acquisition by Musk has removed Twitter from the inspection of public markets, Musk burdened the company with a debt of almost $13 billion that’s now in the hands of seven Wall Street banks that have been unable to discharge it to investors.
