Twitter’s $20 Million Payouts: Since Elon Musk’s acquisition of Twitter in April 2022, the social media platform has made several changes to Twitter’s features. Twitter’s new subscription-based verification system, through which users can obtain the blue checkmark on their profiles by paying a monthly charge, was its most significant innovation.
Twitter announced in July 2023 that it would share ad revenue with users who purchase the Twitter Blue subscription. Any user with a valid subscription and at least 5 million impressions over the previous three months was eligible to receive a portion of Twitter’s advertising revenue. Twitter has reportedly distributed over $20 million to its paid customers as part of its revenue-sharing program.
Over $20 Million Was Paid By Twitter To Blue Subscribers
Based on the number of impressions on their messages, Twitter began rewarding Blue subscribers with a portion of its advertising revenue. Linda Yaccarino, the CEO of Twitter, stated that the platform has paid more than $20 million to its paying subscribers to date.
In July 2023, Twitter announced the ad revenue-sharing program, and the first group of eligible users received payments for their Twitter impressions from February to June 2023. Since then, the business has issued periodic distributions.
Looks like this platform may see all time high device user seconds usage this week
— Elon Musk (@elonmusk) July 14, 2023
Since the launch of Twitter’s revenue-sharing program, the number of paid subscribers has increased significantly, according to reports. The concept of rewarding a user for using the platform has inspired people to engage more actively on the platform.
However, this change has also led some users to engage in engagement farming for the sole purpose of earning money from Twitter. Some users have expressed displeasure with Twitter’s new revenue program, citing the fact that it controls Twitter’s social aspect.
However, from a commercial perspective, the company benefits from the increased engagement on the Twitter platform. Twitter’s large number of active users allows it to attract more advertisers to the platform, while sharing a portion with its paying subscribers.
Elon Musk asserts that Twitter’s engagement levels have never been higher.
Twitter’s commercial decisions have been significantly influenced by Elon Musk since his acquisition in early 2022. While some users are unhappy with Musk’s rapid decision-making, others have supported his implementation of significant changes, such as the Edit Button, extra-long tweets, etc.
The ultimate result has been a consistent increase in Twitter engagement levels. Since November 2022, according to Elon Musk, the platform’s engagement levels have been unprecedented.
Twitter’s prevalence can be understood from the fact that even the social media titan Meta (Facebook) failed to offer competition to it. Meta launched Threads as a Twitter offshoot in July 2023.
Create. Connect. Collect all on X. We’re enabling the economic success of new segments like creators. And so far we’ve paid out almost $20 million to our creator community. https://t.co/kk137uPkAo
— Linda Yaccarino (@lindayaX) September 29, 2023
Although more than 100 million users registered for Threads in just one week, the site’s prominence has decreased since then. Over 80% of profiles on the platform are currently inactive, with no recent activity. The number of active Threads users is estimated to be approximately 10 million, and is decreasing at a daily rate of 1%.
Threads failed to leverage on its users’ interest because it was a textual version of Instagram. Meta was unaware that the same individual behaves differently on various social media platforms. Using Threads as an extended version of Instagram prevented users from connecting with Twitter’s community-based experience.
Threads’ failure has strengthened Twitter’s position in the social media market. It is evident that Twitter users are devoted to the platform not because of Elon Musk, but because of the unparalleled experience provided by Twitter.
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