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Musk proposes Twitter Blue subscription shake-up days after disclosing 9.2% Twitter stake

(Reuters) – Elon Musk, Twitter Inc’s largest shareholder, on Saturday instructed a raft of adjustments to the social media big’s Twitter Blue premium subscription service, together with slashing its value, banning promoting and giving an choice to pay within the cryptocurrency dogecoin.

Musk, who disclosed a 9.2% stake in Twitter simply days in the past, was supplied a seat on its board of administrators, a transfer which made some Twitter workers panic over the way forward for its skill to average content material.

Twitter Blue, launched in June 2021, is Twitter’s first subscription service and presents “unique entry to premium options” on a month-to-month subscription foundation, Twitter says. It’s accessible in the USA, Canada, Australia and New Zealand.

In a Twitter submit, the top of electrical automobile maker Tesla Inc instructed that customers who join Twitter Blue ought to pay considerably lower than the present $2.99 a month, and will get an authentication checkmark in addition to an choice to pay in native foreign money.

“Value ought to in all probability be ~$2/month, however paid 12 months up entrance & account would not get checkmark for 60 days (look ahead to bank card chargebacks) & suspended with no refund if used for rip-off/spam,” Musk mentioned in a tweet.

“And no advertisements,” Musk instructed. “The facility of firms to dictate coverage is vastly enhanced if Twitter will depend on promoting cash to outlive.”

Musk additionally proposed an choice to pay with dogecoin and requested Twitter customers for his or her views.

Twitter declined to touch upon Musk’s solutions.

The corporate already lets individuals tip their favourite content material creators utilizing bitcoin. Twitter had mentioned final 12 months that it deliberate to help authentication for NFTs, or non-fungible tokens, that are digital belongings reminiscent of photos or movies that exist on a blockchain.

Musk additionally began a ballot on his Twitter account – which has greater than 81 million followers – asking whether or not the agency’s San Francisco headquarters must be transformed to a homeless shelter as “no-one reveals up (to work there)”. The ballot obtained extra 300,000 votes in an hour, with 90% answering sure.

(Reporting by Maria Ponnezhath in Bengaluru; Further reporting by Jaiveer Singh Shekhawat; Modifying by Kenneth Maxwell)



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