X, formerly known as Twitter, has unveiled two new subscription tiers in a bid to bolster its revenue streams. The move comes in the wake of significant challenges in the advertising sector, driven by controversial changes made under the leadership of Elon Musk.
X’s first new subscription tier is called “Premium+,” priced at $16 per month. This premium offering provides subscribers with an ad-free experience in the For You and Following feeds. What’s more, Premium+ offers the “largest reply boost,” enhancing engagement with other users. Subscribers to this tier also gain access to revenue-sharing opportunities and a range of creator tools, making it an attractive option for influencers and content creators.
The second tier introduced is the “Basic” tier, available for $3 per month. While it doesn’t come with the coveted blue checkmark, it provides essential features like the ability to edit posts, post longer text, and share videos. Additionally, the “Basic” tier offers a “small reply boost,” giving users a slight boost in engagement.
Both new subscription tiers are accessible on the web, offering users more choices to tailor their X experience to their needs and preferences.
The launch of these new subscription tiers coincides with reports from Bloomberg regarding X’s efforts to diversify its subscription offerings. The motivation behind this move is the declining advertising revenue, which has been a concern since Elon Musk’s tenure began last fall. Major companies withdrew their ads from X due to concerns over ad placement next to inappropriate content, resulting in a significant decline in U.S. ad revenue. Recent figures show a substantial 60% year-over-year decrease as of August.
To compensate for this loss and explore new revenue streams, Musk has explored various avenues, including charging users in certain regions a nominal fee to access the social network.