by David Sent on 07 feb 2023, 23:15:00
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Twitter is a company that is unlikely to generate benefits for Elon Musk in the medium term, and in the long term it will be seen. Like many companies of its ilk, it is loss-making, with interest payment obligations eating up almost all revenue. In addition to cutting the company’s workforce by less than half, Musk laid off virtually every freelancer and subcontractor on his payroll to handle various systems. But he was looking at Twitter Blue as his main source of income, and it doesn’t appear to be happening.
It is true that it has taken time to be available worldwide, but even so, it would only have 290,000 subscribers right now. Of these, 180,000 would be from the US, which would be a small fiasco if one takes into account the supposed 450 million monthly active users that the microblogging network would have. It has always been said that Twitter had a bigger bot problem than its former CEO, the ineffable Jack Dorsey, claimed.
Musk’s idea is that half of the company’s revenue will come from Twitter Blue. That would be over $1.5 billion or about 23 million subscribers per year. From 23 million to the 0.29 million it has right now, there is a huge jump, so you can now put the accelerator to promote it or give more benefits to arouse the interest of users. In developed countries it costs 8 dollars/euros, without taxes, so in Spain it is 9.68 euros per month, with a discount for subscribing annually.
Another source of income that Elon Musk has in mind is to charge for accessing the Twitter API for third-party applications. After the uproar and the cut off of access without notice, Musk backed down, ensuring that write-only access to the API would be allowed at no cost, for example to send tweets. It is not yet known when it will activate it or how much full API access will cost.
Via:
EnGadget.
