Twitter’s recent update attracts more users to Threads…

Highlights

Important ideas:
1. Twitter is starting to test a new program in New Zealand and the Philippines that requires unverified accounts to sign up for a $1 annual subscription.
2. The purpose of this test is to combat bots on the platform, as bots cannot afford the $1 per year subscription fee.
3. Twitter claims that this is not a profit driver and that the number of monthly active users on the platform continues to decrease.
4. The announcement of this change by Elon Musk has led to an increase in users for Threads, Bluesky, and Mastodon, benefiting his competitors.

Elon Musk’s New Pricing Model for X (Twitter)

Elon Musk recently made an official announcement regarding his plans for X (Twitter). After teasing the idea for a few weeks, Musk revealed that new users will now be required to pay a $1 annual subscription fee to use the platform. This new program is currently being tested in New Zealand and the Philippines.

The decision to introduce this subscription fee stems from X’s need to combat bots on the platform. X believes that by implementing this fee, it will deter bots as they cannot afford the cost. This move is not intended to increase profits for X. With around 335 monthly active users, the company’s priority is to address the issue of bots rather than generate additional revenue.

Interestingly, Musk’s announcement has inadvertently benefitted his competitors. Threads, Bluesky, and Mastodon have seen an influx of users as people migrate away from X. Musk’s frequent announcements and changes have prompted users to explore alternative platforms.

In a surprising turn of events, Musk’s actions have also boosted Mark Zuckerberg’s image. Each of Musk’s moves seems to shine a positive light on Zuckerberg and his company, Meta. Who would have predicted that Meta would become the “good” social media company in 2023?