Elon Musk’s social media platform, “X” (formerly Twitter), is set to introduce a three-tiered premium subscription model to diversify revenue streams and cater to a broader user base, as confirmed by CEO Linda Yaccarino during a recent meeting with debt holders.
The existing subscription model for X is priced at $7.99 and offers a single tier. However, with the upcoming changes, users will have the option to choose from three different tiers: Basic, Standard, and Plus. This move isn’t just about increasing revenue; it’s a strategic decision to appeal to users who might have been put off by the initial subscription cost. X aims to broaden its reach by presenting multiple pricing options, allowing users to pick a plan that suits both their financial constraints and feature preferences.
While it’s believed that the $7.99 price point will be exclusive to the Plus tier, giving access to all features, the exact costs for each tier remain undisclosed. The Basic and Standard tiers are expected to be more budget-friendly, offering a more limited set of features. There’s ongoing speculation and debate among users and experts about whether the prestigious blue checkmark, a badge of verification on the platform, will be part of these more economical subscription options.
Linda Yaccarino became the CEO in June and has good news about the company’s growth. She showed that the company is making more money from ads, data licensing, and subscriptions. With the new subscription levels, X can grow even more in the social media world.
This new plan has many benefits. X can get more users by offering different price levels. Even if the cheaper plans don’t make as much money, having more users can still increase total earnings. Also, if people like using X, they might pay for a better plan later, which means more steady money for the company.
Musk’s new subscription plan looks good for growth, but he’s also facing legal problems. The U.S. SEC is suing him because he didn’t want to talk about buying Twitter stock in 2022. They’re checking if he did something wrong with that purchase. This lawsuit might affect X’s plans and actions in the future.
