Twitter plans to start charging users nearly $ 20 per month to keep their blue ticks under a premium service to be implemented under the leadership of Elon Musk, according to a report.
“The whole verification process is under review right now,” said Musk, who took over the social media platform on Friday. tweeted Sunday.
The sharp rise in prices would be one of the revisions, The Verge reported.
The company plans to increase its optional premium subscription from $ 4.99 per month called Twitter Blue to $ 19.99 per month. However, that price is subject to change, the outlet reported, citing internal correspondence and people familiar with the matter.
Twitter will add more features, including verification, to drive the rising cost of its subscription.
The billionaire plans to get verified users to shell out money to maintain their status.
Existing verified users have 90 days to subscribe to the new Twitter Blue after launch or they will lose their ticks, according to The Verge.
The current Twitter Blue launched about a year ago and offers subscribers a way to view ad-free articles from select publishers and additional personalization settings.
Musk was open about his desire to increase the number of subscriptions to account for half of Twitter’s revenue, as well as his desire to review the platform’s verification process in the months leading up to its $ 44 billion acquisition of the company on Thursday.
Employees working on Twitter Blue’s updates were told on Sunday that they must meet the November 7 deadline or face layoff, according to the outlet.
Since acquiring Twitter, Musk has been rapidly reducing staff. Starting from the top, he ousted CEO Parag Agrawal, CFO Ned Sega, company legal and political director Vijaya Gadde, and general counsel Sean Edgett.
