Elon Musk, the renowned entrepreneur, and CEO of SpaceX and Tesla, made an intriguing announcement today regarding X, the social media platform formerly known as Twitter. Musk revealed that X has updated its policy for verified creators participating in the recently launched ‘Ads Revenue Sharing’ program.
Under the new policy, verified creators on X will not have to pay anything until their earnings exceed $100,000. During the initial year of the program, X will not take any cut from creators, allowing them to enjoy full earnings from their content. However, once the payout surpasses the specified limit, creators will be required to contribute 10% of their total earnings to the platform.
In addition to this policy change, Elon Musk expressed his intentions to discuss matters with Apple CEO Tim Cook, aiming to negotiate a reduction in the 30% cut that X currently shares with Apple for in-app purchases. The goal behind this negotiation is to maximize the earnings that creators receive from the platform.
Notably, last week, X implemented a new initiative to compensate verified creators by sharing a portion of their ad revenue generated from ads displayed in replies to their posts. By focusing on monetizing ads in replies, X intends to encourage creators to produce engaging content that stimulates active participation and interaction on the platform.
To be eligible for the ‘Ads Revenue Sharing’ program, users must fall into specific categories, such as being Blue subscribers (formerly known as Twitter Blue) or Verified Organizations with over 500 followers and 15 million impressions on their posts within the last three months.
Joining the program and setting up payment arrangements is straightforward. Eligible users can navigate to the ‘Monetization’ section within the X app settings. The platform facilitates payments through Stripe, enabling users to conveniently transfer their earnings to their respective bank accounts.
Recently, X also introduced a new feature that allows Blue subscribers to hide their blue tick, enhancing user privacy options. Additionally, the ‘Tweet’ button on X has been renamed to ‘post’ in a subtle yet noticeable interface change.
With these developments, X aims to empower creators by offering fair revenue-sharing opportunities, driving content creation, and fostering a vibrant and engaged community on the platform.