Twitter CEO Elon Musk is seeking to roll out an ad-free version of the social media platform via a new, paid subscription option. In multiple Tweets sent out on Sunday, Musk explained the reason for the move as well as what to expect in terms of a timeline:
“Ads are too frequent on Twitter and too big. Taking steps to address both in the coming weeks," he said. "Also, there will be “a higher priced subscription that allows zero ads.”
The new, paid subscription option would join the existing Twitter Blue, which allows users to pay a fee in order to receive a verified blue checkmark on their profile. Currently, a Twitter Blue subscription costs $11 a month for mobile access and $8 a month for desktop access. Musk gave no details with regard to the pricing of the alternative.
Since his takeover of Twitter in 2022, Musk has been falling out hard with advertisers who are concerned over his management of the social media platform. They are particularly concerned with his weak approach to content moderation, or lack thereof. Some reports have as many as 500 of Twitter’s top advertisers, including General Motors, Pfizer, and Chipotle, pulling their ads completely—a grave reality considering that Twitter earns almost 90 per cent of its revenue from digital advertisements.
In the meanwhile, the Financial Times has reported that Musk will make his first interest payment on the $13 billion loan he took out to close the $44 billion deal this month. This may contribute to even more financial strain on the company on top of the drop in advertisers. Overall, Musk's net worth has dropped a whopping $182 billion since the acquisition, which has earned the billionaire a Guinness World Record title.
It will be interesting to see how Musk’s ad-free version of Twitter will fare once it rolls out.
