ELON Musk is planning to make good on his promise to find new revenue streams for Twitter.
Twitter’s new owner is weighing adding a fee for certain accounts.
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Musk has publicized a few plans to cut costs and raise revenue once his takeover of Twitter is official.
He’s plotting to cut board salaries, which would save the company $3million, and he’s flirted with the idea of charging a use fee for media companies that embed tweets from verified accounts.
Adding to the perception that Musk is a man of the people, his latest plans do not involve instituting fees against the regular user.
“Twitter will always be free for casual users, but maybe a slight cost for commercial/government users,” Musk wrote on Twitter.
In this case, governments and commercial accounts would be paying to enter what Musk has called the “de facto public town square” – a noticeable contradiction in the framing that Musk’s purchase of Twitter is freeing.
Reuters reported that Musk told the bankers underwriting billions in loans to him that he would find new ways to monetize the Twitter.
Musk also mused making alterations to Twitter Blue, a paid premium tier of the platform first introduced in 2021.
In a reply to the tweet, Musk added “Some revenue is better than none!”
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According to financial analysts at The Motley Fool, Twitter’s free cash flow – a metric for determining a company’s cash on hand – is at an all time low.
Other numbers don’t look good either – Twitter’s market capitalization has dropped in three straight quarters.
It will take serious ingenuity for Twitter to reverse course.
Sky News reported that Musk is setting a three-year timeline to apply changes.
In the 11th hour of the deal, Musk is looking for investment partners to buy equity in Twitter and considering letting small stakeholders like founder Jack Dorsey keep what they own.
If Musk takes on partners, it will reduce the amount of money and stock he has to personally stake to make the sale go through.
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