Elon Musk: X (Formerly Twitter) to Charge Small Monthly Fee

Elon Musk Dogecoin

The wealthiest individual globally, known for making unexpected statements, intends to introduce a paywall on the platform to deter automated accounts.

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Elon Musk, the owner of X (formerly Twitter), has hinted at the possibility of making all users pay to access the platform. He believes that introducing a paywall could help deter automated accounts, often referred to as bots, which have been a source of concern for him.

During a meeting with Israeli Prime Minister Binyamin Netanyahu, Elon Musk, the CEO of Tesla and the world’s wealthiest person, mentioned that X is contemplating charging its user base. Currently, Twitter only charges users for its subscription service, X Premium, which costs $11 per month in the US (for iPhones) and £11 per month in the UK.

Musk stated, “We’re moving towards implementing a small monthly fee for using the platform.”

Elon Musk Considers Charging to Deter Bots on X Platform

Elon Musk, known for his spontaneous statements, is thinking about implementing a fee for using the X platform to discourage bot creators.

Musk noted that setting up bots currently costs very little, just “a fraction of a penny.” He suggested that increasing the cost to “a few dollars or something” might deter bot operators, as they would need to use a new payment method each time they create a bot.

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It’s important to note that Musk did not confirm whether X will definitely adopt this charging policy, and further details are awaited from X.

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Elon Musk Discusses X Platform’s Challenges and Potential Paywall

During a conversation with Israeli Prime Minister Binyamin Netanyahu, Elon Musk shared some insights about the X platform. He mentioned that X currently has 550 million monthly users who create around 200 million posts daily. Before Musk acquired the platform in October 2022, X used a different measure, monetizable daily active users, which numbered 238 million.

Musk’s consideration of a paywall for X comes as the platform faces a significant decline in advertising revenue, which has been its primary source of income. He attributed this decline to a 60% drop in ad revenue due to an advertiser boycott, prompted by concerns about his leadership and X’s handling of inappropriate or hateful content.

The conversation also touched upon issues of free speech and anti-Semitism on the platform. Musk has expressed his support for free speech but has also voiced his stance against any form of anti-Semitism. Prime Minister Netanyahu encouraged Musk to find a balance within the framework of the First Amendment to address anti-Semitism and hatred on X.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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