Twitter needs to generate revenue quickly after advertising on the site dwindled following the purchase by Elon Musk. Among the initial steps introduced is the wider offering of Twitter Blue to more countries. But according to a report by The Information, as of the middle of this month there are only 290,000 Twitter Blue subscribers globally.
Of this number 65% or around 180,000 customers are from the United States. This is around 0.2% of the total active users of the service which has hundreds of millions of users. In the same report, it is estimated that Twitter Blue will only generate $28 million per year globally in 2023.
Elon Musk made various changes to reduce costs such as shedding thousands of workers, turning off API access to third-party clients, charging a fee to access the API and possibly charging $1000 per month to companies that want to remain using Verified on accounts.
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BUSINESS & MONEY