Musk proposes to shake up Twitter Blue subscription days after announcing 9.2% Twitter share

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/File Photo

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April 9 (Reuters) – Elon Musk, the largest shareholder of Twitter Inc (TWTR.N), on Saturday proposed a series of changes to social media giant Twitter Blue’s premium subscription service, including lowering the price, banning ads and restricting giving an option to pay in the cryptocurrency dogecoin.

Musk, who announced a 9.2% stake in Twitter just days ago, was offered a seat on its board of directors, a move that left some Twitter employees panicking about the future of his ability to moderate content. read more

Launched in June 2021, Twitter Blue is Twitter’s first subscription service, offering “exclusive access to premium features” on a monthly subscription basis, Twitter says. It is available in the United States, Canada, Australia and New Zealand.

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In a Twitter post, the head of electric vehicle manufacturer Tesla Inc (TSLA.O) suggested that users who sign up for Twitter Blue should pay significantly less than the current $2.99 ​​per month, and be given an authentication check, as well as an option to pay in local currency.

“Price should probably be ~$2/month but paid 12 months in advance and account will go unchecked for 60 days (note credit card chargebacks) and suspended with no refund if used for scam/spam,” Musk said in a tweet.

“And no ads,” Musk suggested. “Corporate power to dictate policy is vastly increased when Twitter relies on advertising money to survive.”

Musk also suggested an option to pay with dogecoin and asked Twitter users for their opinion.

Twitter declined to comment on Musk’s suggestions.

The company already lets people tip their favorite content creators using bitcoin. Twitter had said last year that it plans to support authentication for NFTs, or non-replaceable tokens, which are digital assets such as images or videos that exist on a blockchain.

Musk also started a poll on his Twitter account — which has more than 81 million followers — asking whether the company’s San Francisco headquarters should be turned into a homeless shelter because “nobody shows up (to work there).” “. The poll got more 300,000 votes in an hour, with 90% answering yes.

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Reporting by Maria Ponnezhath in Bengaluru; Additional reporting by Jaiver Singh Shekhawat; Editing by Kenneth Maxwell

Our Standards: The Thomson Reuters Trust Principles.

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