Twitter is a new more expensive subscription to hide ads

The various decisions made by Elon Musk have really scared away a significant portion of the mainstream advertisers.

AFP

Elon Musk announced Saturday in a series of posts on his social media that the latter will soon offer “a more expensive subscription that will no longer have ads.” It will be a radical change to the business model of Twitter, which until now relied on targeted ads to generate revenue, before launching its first paid subscription in mid-December.

This new zero-ads subscription will be part of a broader strategy, which the American billionaire announced in a tweet, to overhaul the presence of ads on the social network. “Twitter ads are too frequent and too big. We will act on these two parameters in the coming weeks,” Musk wrote. The social network has faced severe economic difficulties since its takeover by Elon Musk in late October. The company initially laid off about half of its 7,500 employees.

In late December, the man who also sits at the helm of Tesla and SpaceX estimated that Twitter could reach around $3 billion in turnover this year, the equivalent of a 41% decline from 2021. Elon Musk’s decisions really scared off a significant portion of the mainstream advertisers, frightened by the return to the platform of people who were initially banned for racist or conspiracy theories.

17 million users are in favor of his departure

The company held an auction on Wednesday, offering at least 631 lots of furniture and décor items, including a huge light installation depicting the famous blue bird, which sold for $40,000.

To make up for the advertiser flight, the multi-billionaire, who explained that he had to “cut wildly” to avoid cutting off payments, is counting on subscription formulas starting with Twitter Blue, offered between $8 and $11 a month depending on subscription mode, so it’s the new offer will be without ads.

For about a month, Elon Musk has also been looking for his successor as head of the San Francisco company, after a poll found that 57% of the roughly 17 million participating users were in favor of his departure.

AFP

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