Elon Musk, the tech maverick behind X, formerly known as Twitter, has raised the possibility of implementing a paywall for all users of the platform. This bold move, Musk contends, would serve as a deterrent to the plague of automated accounts, known as bots, that have increasingly plagued the platform.
During a meeting with Benjamin Netanyahu, the Israeli Prime Minister, Musk, who wears the dual hats of Tesla CEO and the world’s wealthiest individual, hinted at the potential shift in Twitter’s business model. Presently, Twitter only levies charges for its subscription service, X Premium, which offers exclusive features like a coveted verified account checkmark at a cost of $11 per month in the United States and £11 in the United Kingdom.
Musk elucidated, “We’re moving to having a small monthly payment for use of the system.” The rationale behind this prospective move lies in Musk’s assertion that bots can be set up for mere fractions of a penny, making it a cost-effective endeavor for those who wish to operate such software. Elevating the cost of an account to “a few dollars or something” could potentially deter bot operators, as each new bot creation would necessitate a fresh payment method. It’s a strategic gambit aimed at preserving the platform’s integrity.
It is noteworthy, however, that Musk, renowned for his impromptu announcements, did not definitively confirm whether X would indeed implement a charging policy. We reached out to X for additional insights, and as of now, await their response.
In the course of this discussion, Musk disclosed that X currently boasts a staggering 550 million monthly users, responsible for generating up to 200 million daily posts. This metric represents a shift from the previous method of measuring the user base using monetizable daily active users, which numbered at 238 million prior to Musk’s acquisition of the platform in October 2022.
Musk’s contemplation of a paywall arises against the backdrop of Twitter grappling with a persistent decline in its advertising revenue, historically its primary source of income. A substantial portion of this decline, Musk contends, is attributed to an advertiser boycott sparked by concerns over his stewardship of the platform and its handling of inappropriate or hateful content, leading to a 60% dip in ad revenue.
The conversation between Musk and Netanyahu, initially slated to delve into technology and artificial intelligence, swiftly shifted gears toward discussions surrounding free speech and antisemitism. Accusations had mounted that X was not doing enough to combat racist rhetoric on its platform.
Netanyahu expressed hope that within the confines of the First Amendment, Musk could find ways to address antisemitism and other forms of hatred on X. “I encourage you and urge you to find the balance,” Netanyahu said, acknowledging the complexity of this issue.
Musk, using his X platform, has been unequivocal about his stance: “pro-free speech, but against antisemitism of any kind.” This sentiment underscores the intricate tightrope that X, like other social media giants, must navigate in their pursuit of fostering an open and inclusive digital space while combatting hate and misinformation.
As this potential shift in X’s business model looms, the broader conservative community watches with keen interest, recognizing the implications it could have on the landscape of digital discourse and free expression.
