Twitter to Let Media Outlets Charge Users to Read Articles

Twitter will let media outlets charge users on a per-article basis, CEO Elon Musk said.

“Rolling out next month, this platform will allow media publishers to charge users on a per article basis with one click,” Musk tweeted Saturday (April 29).

“This enables users who would not sign up for a monthly subscription to pay a higher per article price for when they want to read an occasional article. Should be a major win-win for both media orgs & the public.”

The addition is the latest in a string of changes to Twitter under Musk’s controversial ownership, as the world’s second richest person tries to transform the social media platform into an “everything app.”

Earlier this month, Musk announced that Twitter users could apply to monetize their content on the platform, letting their followers subscribe to access material like long-form text and video.

“For the next 12 months, Twitter will keep none of the money,” Musk said. “You will receive whatever money we receive, so that’s 70% for subscriptions on iOS & Android (they charge 30%) and ~92% on web (could be better, depending on payment processor).”

“After [the] first year, iOS & Android fees drop to 15% and we will add a small amount on top of that, depending on volume,” Musk added in the tweet.

As PYMNTS wrote recently, Twitter’s transformation began in November when the company filed with the Financial Crimes Enforcement Network to register to process payments.

Then came months of silence on the matter, until a few weeks ago, when Musk revealed his plans to turn Twitter into a financial institution to rival PayPal.

However, becoming an everything app might be easier said than done, as PYMNTS’ research into super apps has shown.

Consumers demand quite a lot from these providers, according to the PYMNTS collaboration with PayPal, “The Super App Shift: How Consumers Want to Save, Shop and Spend in The Connected Economy.”

Of the super app benefits listed in the survey, 10 out of 11 features received a “very or extremely interested” by more than 50% of consumer respondents.

“And with only two of these features directly related to payments services, Musk may have his work cut out for him to seamlessly and successfully offer most (or even many) of the additional features,” PYMNTS wrote. “One big obstacle facing X’s plan is the trust factor, as over half of consumers trust their financial institutions most to provide a safe super app.”