Elon Musk has announced that creators on Twitter can now earn money from their content, as part of the company’s ongoing efforts to improve its bottom line and promote citizen journalism. This is one of several measures taken since Musk’s takeover of the social platform, including mass layoffs and the introduction of Twitter Blue subscriptions, aimed at making the company profitable.

Elon Musk Officially Enables Content Creator Monetization On Twitter

Twitter’s Latest Update

While some previously-verified individuals resisted the monthly fee for a blue checkmark on the platform, Musk viewed it as a necessary source of revenue.

Twitter‘s “Subscriptions” feature enables users to set a monthly fee, choosing from the available pricing options, that followers will pay to access the creator’s exclusive content that cannot be viewed publicly.

Stripe Partnership

Regarding the new subscription function, the platform has partnered with Stripe to payout content creators, who will be allowed to keep 97% of their revenue up to $50,000 in lifetime earnings, after which the revenue split will be lowered to 80%. However, the revenue share will not begin until creators have earned at least $50.

Elon Musk Officially Enables Content Creator Monetization On Twitter

Subscribers will not be able to get refunds for their subscriptions, even if the creator’s account gets suspended, and will need to manually unsubscribe to avoid paying for inactive accounts. The introduction of content creator subscriptions has been well received by members of Crypto Twitter, who have built up a large following on the platform over the years.

Follow CoinWire on Google News