We have already seen a lot of online publications locking their content behind a paywall. But it seems that a social media company is also thinking of adding a paywall to the entire site. We are talking about Twitter which is now owned by Elon Musk (new owner).
However, we still do not know whether this plan is serious or not. Furthermore, there's also no information on how and when a plan like this will be implemented on Twitter. Although a plan like this might sound very strange, it shows that Elon Musk is thinking of different ways to drive revenue for Twitter.
Overall, Elon Musk has paid $44 billion to buy Twitter shares, and as a result, he is the new owner of the social media platform. Furthermore, Twitter is a private company now, and Elon Musk doesn't seem to be wasting any time in making the company profitable.
Some Advertisers Have Paused Spending On Twitter
Elon Musk recently said that Twitter is facing a big revenue drop as many big advertisers are putting a pause on their spending.
Recently, Elon Musk also stated that a monthly fee would be applied to the verified Twitter profiles, which received a lot of criticism. However, we already know that Elon Musk can go ahead even with the most unconventional plans.
It seems that the newest plan coming out of Elon Musk's mind is adding a paywall to the Twitter site. This means that Twitter users will have to pay a fee (it could be 1-time or subscription base) to view and interact with the website.
When Twitter was approached for comments on the paywall idea, there was no one available to issue an immediate answer.
If we look at the recent tweets made by Elon Musk, he talks about giving more power to the people through an $8/month package for Twitter Blue verification. Those who go through the process will enjoy priority in search, replies, mentions, and will see fewer ads. Furthermore, this verification package will also allow the users to share long audio and video.