Elon Musk announces Twitter’s plan to pay verified content creators for ads in their replies, starting with an initial payment block of approximately $5 million.
In a tweet, Musk, the billionaire who acquired Twitter in October last year, stated “Note, the creator must be verified and only ads served to verified users count.”
Musk highlighted that the payouts will be exclusively available to users with verified accounts.
In a few weeks, X/Twitter will start paying creators for ads served in their replies. First block payment totals $5M.
Note, the creator must be verified and only ads served to verified users count.
— Elon Musk (@elonmusk) June 9, 2023
Following the acquisition of Twitter by Tesla CEO Musk, the platform has faced challenges in retaining advertisers, with concerns arising regarding the positioning of their ads due to significant employee layoffs by the company.
The timing coincides with the imminent appointment of Linda Yaccarino, an advertising veteran from NBCUniversal, as the new CEO of Twitter.
Back in March, Musk revealed that Twitter generates approximately 5 or 6 cents per hour of user attention, and he suggested that this figure could be increased to 15 cents or even higher by introducing more relevant and timely advertisements.
Meta Teases Sneak Peek of Upcoming Twitter Rival: ‘Project 92’
In the midst of ongoing challenges with declining ad revenue, Meta, a rival company, has provided its employees with a sneak peek of ‘Project 92,’ a microblogging platform aimed at directly competing with Twitter.
According to reports, the upcoming app from Meta, which is expected to rival Twitter, will be built on the foundation of Instagram. Additionally, it will incorporate ActivityPub, enabling users to seamlessly transfer their accounts and followers to alternative platforms such as Mastodon.
During a companywide meeting, Instagram provided a sneak peek of the forthcoming app, offering insights into its features and providing a visual preview of its appearance, as reported by The Verge.
According to Meta’s top executive, Chris Cox, the platform will described as “our response to Twitter.”
“We’ve been hearing from creators and public figures who are interested in having a platform that is sanely run, that they believe that they can trust and rely upon for distribution,” Cox made a subtle reference, indirectly targeting Musk.
Also Read: Meet Linda Yaccarino: The New Twitter CEO
