Musk says Twitter Basic Blue to slash ads by half
Musk, a prolific Twitter user, has said it needs to be taken private to grow and become a genuine platform for free speech. PHOTO: REUTERS
Twitter owner Elon Musk tweeted on Monday that Twitter's Basic blue tick will have half the number of advertisements and the social media platform will offer a higher tier with no advertisements by next year.
Musk did not elaborate further on the details.
The company re-enabled the Twitter Blue sign earlier in the day, after announcing last week that accounts for individuals will get a blue check, while gold and gray check marks will denote business and government accounts.
The monthly subscription price will be $8 on the web and $11 on Apple devices, respectively.
Twitter earns nearly 90% of its revenue from selling digital ads and Musk recently attributed a "massive drop in revenue" to civil rights organizations that have pressured brands to pause their Twitter ads.