The Key Takeaways

• Twitter is losing approximately $4 million each day. Elon Musk has laid off roughly 50% of its workforce.
• As advertisers leave in great numbers, he is looking for other revenue sources than traditional advertising.
• One suggestion has been an $8 a month ‘Premium’ plan, but there have been new rumors surface that Musk may be considering putting the entire platform behind a paywall.
• For 2021 to be able to replace ads generated income from advertising, he will need to retain around 25% of the active users.
• The sector of tech is now becoming a difficult area for investors. However, AI can help you generate profit even in challenging markets.

Twitter is currently on fire. And we don’t mean on fire like they’re dominating their space. On fire, we don’t mean like an eccentric billionaire who has set the match on fire with dry newspaper and wood.

Elon Musk is more active than ever since he purchased Twitter on October 27th.

He fired a lot of employees, almost half of whom were Twitter workers. Some offices or divisions have had their staff reduced up to 80%.

Musk appears to have been working quickly to find revenue sources and a way to get rid of the HR disaster.

The problem for Musk is that he has made consistent comments about Twitter becoming the ‘free speech’ platform. Users are worried that there will be a decrease in moderation and an increase in hate speech, racist, or homophobic language.

Advertisers are understandably nervous of their brand being associated with this type of messaging and they’ve been leaving in droves since the Musk takeover. He has said on Twitter that there has been a “massive drop in revenue” as a result of advertisers pulling their campaigns.

Musk has said that it’s “extremely messed up” and has even gone so far as to threaten to “thermonuclear name and shame” advertisers who refuse to come back to the platform.

Yep, that’ll definitely work Elon.

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Elon Musk looks for new revenue sources for Twitter

Musk has come up with a number of ideas in order to replace lost advertising revenue. He initially proposed a revamp of the blue-checkmark verification system. It has been in use for years to identify celebrities and notable people, as well as verified journalists.

The platform allows users to distinguish real accounts from fraudulent or scam accounts.

For example, it means users are quickly able to identify whether the account claiming to be Elon Musk and offering 100 Bitcoin in exchange for your credit card details is the real thing or not (spoiler: it’s not).

The blue check mark will no longer …read more

Source:: Social Media Explorer

Author: Aaron