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Musk says Twitter may charge slight fee for commercial, government users

Stock Markets May 04, 2022 07:51AM ET
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2/2 © Reuters. FILE PHOTO: Elon Musk attends the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. Patrick Pleul/Pool via REUTERS 2/2

(Reuters) -Elon Musk said on Tuesday Twitter Inc (NYSE:TWTR) might charge a "slight" fee for commercial and government users, part of the billionaire entrepreneur's push to grow revenue which has lagged behind larger rivals like Meta Platforms Inc's Facebook (NASDAQ:FB).

"Twitter will always be free for casual users, but maybe a slight cost for commercial/government users," Musk said in a tweet. "Some revenue is better than none!" he added in another tweet.

Twitter declined to comment when contacted by Reuters.

Last week, Reuters reported that Musk told banks he would develop new ways to monetize tweets and crack down on executive pay to slash costs at the social media platform company.

Musk also told the banks he planned to develop features to grow business revenue, including new ways to make money out of tweets that contain important information or go viral, sources told Reuters.

At the annual Met Gala in New York on Monday, Musk said the reach of Twitter was currently only "niche," and he would want a much bigger percentage of the country to be on it.

Musk, also the chief executive officer of top electric vehicle maker Tesla (NASDAQ:TSLA) Inc, has been suggesting a raft of changes to Twitter since last month.

In tweets which were subsequently deleted, Musk suggested changes to Twitter Blue premium subscription service, including slashing its price, banning advertising and giving an option to pay in the cryptocurrency dogecoin.

After inking the deal to buy Twitter for $44 billion last week, Musk said he wanted to enhance the platform with new features, make the algorithms open source to increase trust, defeat spam bots, and authenticate all humans.

Musk says Twitter may charge slight fee for commercial, government users
 

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Comments (8)
Tre Hsi
Tre Hsi May 04, 2022 6:55AM ET
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Twitter never made money, and never will, with or without Elon Musk
Richard Fernandez
Richard Fernandez May 03, 2022 10:03PM ET
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business is business, look who has to pay, people conducting business. go for it.
Stephen Rickman
Crotty May 03, 2022 9:56PM ET
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It would be crazy if it actually goes free speech and charges a free. Then free speech would be charged a premium, while censored speech would be free. That would be a terrible commentary on the state of humanity.
John Laurens
John Laurens May 03, 2022 9:56PM ET
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Only one group of folks to blame for eventuality..
Roman Sill
Roman Sill May 03, 2022 9:56PM ET
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irony 🤭
Tre Hsi
Tre Hsi May 03, 2022 9:56PM ET
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martin guo  "The government promotes censorship"  -- so your logic is that US govt didn't interfere with the business model of a corporation like Twitter = promoting censorship?  yeah OK
By designe
Series3bydesign May 03, 2022 9:56PM ET
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Imagine having a building that you own and allow people to come and write stuff on blackboards in the building. Do you have to allow anyone to come and write whatever they want? No, you own it and control it. If someone writes something that goes against the community policy you kick them out. They still can go outside and say whatever they want or do at their own place.
Tre Hsi
Tre Hsi May 03, 2022 9:56PM ET
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By designe  or imagine if the govt decided to regulate what FoxNews contributors/commentators can say on air, because they want to prevent FoxNews from only showing only conservative point of views...........
rajendra hindustani
rajendra hindustani May 03, 2022 9:26PM ET
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in favor of the investor
John Laurens
John Laurens May 03, 2022 9:17PM ET
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I'd pay to use it if its gonna be fair to conservatives!
Joel Schwartz
Joel Schwartz May 03, 2022 9:08PM ET
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So he wants to take social media private and charge a subscription fee. Wow. This timeline socks.
Paul Sutton
paulsmith007 May 03, 2022 8:50PM ET
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Musk is so obnoxious.
José Alberto Ocampo
José Alberto Ocampo May 03, 2022 8:38PM ET
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Good . Government must pay . they get our money
 
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