April 28 (Reuters) – (This April 28 story has been corrected to attribute the reduce taken on subscriptions to iOS and Android platforms, not Twitter, in paragraph 5)
Twitter Inc CEO Elon Musk stated on Friday that the social media platform will take a ten% reduce on content material subscriptions after the primary yr, as the corporate appears to be like to monetize content material on the web site in a bid to diversify its income sources.
Earlier this month, billionaire proprietor Musk stated customers of the social media platform will be capable to supply their followers subscriptions to content material, together with long-form textual content and hours-long video.
He had additionally stated that the corporate won’t take a reduce for the primary 12 months on content material subscriptions.
Musk has been bringing in modifications at Twitter to spice up income after the platform noticed promoting earnings drop final yr within the run as much as his $44 billion acquisition that closed in October.
He added that the reduce taken by iOS and Android platforms on subscriptions will drop to fifteen% within the second yr from 30% within the first.
Reporting by Akash Sriram in Bengaluru; Modifying by Maju Samuel
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