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Might 3 (Reuters) – Elon Musk mentioned on Tuesday Twitter Inc (TWTR.N) may cost a “slight” payment for industrial and authorities customers, a part of the billionaire entrepreneur’s push to develop income which has lagged behind bigger rivals like Meta Platforms Inc’s (FB.O) Fb.

“Twitter will all the time be free for informal customers, however perhaps a slight value for industrial/authorities customers,” Musk mentioned in a tweet. “Some income is best than none!” he added in one other tweet.

Twitter declined to remark when contacted by Reuters.

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Final week, Reuters reported that Musk informed banks he would develop new methods to monetize tweets and crack down on govt pay to slash prices on the social media platform firm. learn extra

Musk additionally informed the banks he deliberate to develop options to develop enterprise income, together with new methods to generate income out of tweets that include vital data or go viral, sources informed Reuters.

On the annual Met Gala in New York on Monday, Musk mentioned the attain of Twitter was at present solely “area of interest,” and he would need a a lot greater proportion of the nation to be on it. learn extra

Musk, additionally the chief govt officer of prime electrical automobile maker Tesla Inc (TSLA.O), has been suggesting a raft of modifications to Twitter since final month.

In tweets which have been subsequently deleted, Musk instructed modifications to Twitter Blue premium subscription service, together with slashing its value, banning promoting and giving an choice to pay within the cryptocurrency dogecoin.

After inking the deal to purchase Twitter for $44 billion final week, Musk mentioned he needed to reinforce the platform with new options, make the algorithms open supply to extend belief, defeat spam bots, and authenticate all people. learn extra

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Reporting by Shivani Tanna, Maria Ponnezhath and Shubham Kalia in Bengaluru; modifying by Uttaresh.V and Subhranshu Sahu

Our Requirements: The Thomson Reuters Belief Ideas.

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