Since July 2023 X (Twitter) paid almost 20 million dollars to its users and then the company began to share advertising revenues with popular authors.
The social network transfers a portion of the advertising revenue to users, which is shown in the responses to their posts. Premium subscribers can join the program, have more than 500 readers, and receive more than 5 million views on their tweets in three months.
Twitter Inc. was founded in 2006. Elon Musk acquired it in the fall of 2022. The deal is valued at $44 billion.
- In December 2022, the revenue and net profit of the Twitter platform decreased by 40% year-on-year. Analysts attributed the decline to advertisers leaving the social network after Elon Musk joined the company.
- To reduce business costs, Elon Musk reduced the company’s staff by 50%. The wave of layoffs in February 2023 was already the eighth since the purchase of the social network by the American billionaire.
Author:
Karina Pardaeva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
