Elon Musk, CEO of Twitter, announced on Friday that the social media network will reduce content subscriptions by 10% after the first year.
This comes as the corporation seeks to commercialise internet content in order to diversify its revenue sources.
Earlier this month, billionaire owner Musk announced that users of the social media network will be able to provide subscriptions to material, including as long-form text and hours-long video, to their followers.
He also stated that the company will not take a cut on content subscriptions for the first 12 months.
Musk has been making changes at Twitter to increase revenue after the platform’s advertising revenue fell last year in the run-up to his $44 billion acquisition, which concluded last October.
He also stated that the company’s portion from iOS and Android subscriptions will be reduced to 15% in the second year from 30% in the first.
