Why will Verified Accounts on Twitter start to cost $8/month?

In the latest adventures of Elon Musk the Twictator (Twitter Dictator) we bring to you a royal decree by which his employees have to meet the arduous task of developing the necessary features for the new Twitter Blue Tick feature. If you’ve not heard it yet, Twitter verification is on its way to becoming rented. Initially, Elon Musk planned this to cost around $19.99. But Musk has revealed the latest Twitter blue subscriptions that include a blue tick will cost $8.

Twitter to change Twitter Blue subscription to incorporate the blue tick

Twitter Blue cost $8
courtesy of Reuters.com
  • Twitter Blue has already existed as a measure for users to provide them extra details and features. Twitter’s blue subscription cost $4.99.
    • It allowed features such as an undo tweet button, a custom navigation bar, a list of top articles shared by the people you follow, and ad-free access to articles shared on the microblogging site that lead to press websites.

Imagine ad-free access to Spieltimes’ hottest news and gaming articles! something to die for.

Now with whatever agenda dictator Musk has planned for Twitter’s latest capitalist endeavors, it will be an upgrade to the existing Twitter Blue subscription. Musk has already reportedly been planning on firing the employees if they don’t meet the given deadline of ranging the new Blue subscription feature.

How is Twitter Blue different from verified users?

Twitter Blue Tick
via Twitter.com

Twitter Blue was different from having a Blue Tick. Twitter gave a blue tick to verified journalists, media persons, famous celebrities, and anyone who authentically represented the account of someone worth following. As of 2022, there was an estimated 440,000 verified users on Twitter.

  1. A Twitter Blue subscription didn’t give you a blue tick, although blue-ticked (verified) users could technically buy the subscription. With the latest changes, the original blue subscription plans will likely be scrapped.
  2. All these features will be part of the new rented Blue Tick, whereby you pay and get verified. The new blue tick will only be given to Twitter Blue subscribers.

The already verified users will have a 90-day period in which they will have to attest to the new subscription or risk losing the verified symbol.

Why will Verified Accounts on Twitter start to cost $8/month?

Elon Musk Twitter Blue cost $8
via BBC.COM

There seem to be multiple reasons that Musk uses to justify this move.

1. A more encouraging environment for content creators

  • This move of reducing ads and extending video and audio limits allows for a more content-oriented approach.
  • While content has always been Facebook and Instagram’s domain, Twitter has remained a microblogging dominant site.
  • Its primary features were always 140-character Tweets rather than multimedia (images, videos.)

As such it’s worth doubting if such a move was required, given that there aren’t many platforms that host such a perfect environment for journalists and bloggers. Whereas platforms for content already exist in abundance (not without their faults, but that’s a different topic altogether.)

2. It will allow a reduction in spam

Now, these aren’t what we are saying. It’s just what Musk believes in. Apparently, a blue subscription should reduce spam. Although the most common objection to that is that those who want to spam can do so even after purchasing a Twitter blue subscription. In Elon Musk’s head, the answer probably looks like this –

  1. There is a barrier of algorithms that will divide Blue subscribers from non-subscribers. The subscribers will get higher priority in searches and replies.
  2. Hence whenever one searches the Twitter database, one will find the Blue subscriber’s tweets in priority.

This is assuming that the ones who spam are impoverished and economically incapable of affording a USD 8 per month subscription. Whether this pans out according to the Twitter overlord is something to witness.

3. It will account for half the company’s revenue 

Twitter Blue Tick Cost $8 Elon Musk
courtesy of BBC.com

The thing about free sites is that the company has to rely on the sales revenue of the advertising and affiliates to keep standing. The sale of advertising services earns Twitter a certain percentage.

  • Just imagine the scope of Twitter – it is about one of the largest social platforms in existence. If in one day there are even 100,000 advertising sales going on, Twitter is earning a percentage from each of them.
    • Advertising services generated $4.5 billion, or about 89%, of Twitter’s revenue in FY 2021.
    • The rest of the 11% came in the forms of Data licensing and other services.

  • Now Elon says he needs to pay taxes, which of course he does.
    • And for the same he plans on bringing the company’s revenue markup to 50% from subscriptions alone.
    • How this affects the different advertising services that span globally will be another interesting thing to witness.

Elon Musk will adjust the prices of Twitter Blue Tick cost $8

He mentions that the price will be adjusted per country proportionate to purchasing power parity.

  • In simple, this refers to a calculated balance whereby the price won’t be $8 for every country.
    • $8 may translate to different values to different currencies depending upon a complex system of the economy called foreign exchange.
  • Hence it is likely that for different countries and currencies, Twitter will adjust the prices according to whatever fits the nation’s economic status.

Concluding

The people’s response to this is outright condemning to straight hilarious. Some of the people on Twitter even brought out Musk’s own following, which consists of over 70% fake followers.

A flood of verified users came with new suggestions. One included having two different badges. For Blue subscribers and another for verified blue subscriber personalities or organizations. This could potentially solve the problem of the lack of guarantee of verified information if Twitter Blue Tick costs $8 becomes the thing.

Stephen King’s initial rejection of Musk’s $20 offer made the billionaire bargain and say “How about $8?” creating history’s finest ironic moment where a billionaire negotiated with a millionaire. How the future of Twitter will be shaped depends upon how things go forward. For now, you can just sit down, relax, grab some popcorn and enjoy the show.


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