May 3 (Reuters) – Elon Musk said on Tuesday that Twitter Inc. (TWTR.N) could charge a “light” fee for commercial and government users, part of the billionaire entrepreneur’s revenue-raising efforts, which are lagging behind larger ones. competitors such as Meta Platforms Inc. (FB.O) Facebook.
“Twitter will always be free for ordinary users, but maybe a slight expense for commercial / government users,” Musk tweeted. “Some revenue is better than none!” he added in another tweet.
Twitter declined to comment when it contacted Reuters.
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Last week, Reuters reported that Musk had told banks he would develop new ways to generate revenue from tweets and disrupt executives’ pay to cut spending on the social media company. Read more
Musk also told banks that he plans to develop features to increase business revenue, including new ways to make money from tweets that contain important information or go viral, sources told Reuters.
At Monday’s annual Met Gala in New York, Musk said Twitter’s reach was currently a “niche” and he would like a much higher percentage of the country to be in it. Read more
Musk, also CEO of leading electric vehicle maker Tesla Inc (TSLA.O), has been proposing a number of changes to Twitter since last month.
In tweets that were later deleted, Musk proposed changes to the premium subscription service for Twitter Blue, including lowering its price, banning advertising, and giving the option to pay in the cryptocurrency dogecoin.
After signing a $ 44 billion Twitter deal last week, Musk said he wanted to improve the platform with new features, make open source algorithms to increase trust, defeat spam bots, and authenticate everyone. . Read more
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Report by Shivani Tana, Maria Ponejat and Shubham Kaliya in Bengaluru; edited by Uttaresh.V and Subhranshu Sahu
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