Yeah, from business perspective this seems to actually be pretty sensible. Verified accounts largely represent official accounts from companies such as news orgs. Paying 20 bucks a month for verification is pocket change for them, and they will do it to continue having official presence on the platform. There are literally millions of such accounts translating into tens of millions in monthly revenue.
This approach also creates a direct monetization model as opposed to the current indirect ads/analytics based revenue stream. Ad revenue is currently crashing as US economy enters a recession. Both Fb and Google are showing huge losses and doing layoffs already. Focusing on the main product would also likely allow cutting down on the employees significantly which is something that Musk keeps talking about.
Yeah, I can’t see them dumping that entirely either. Data analytics in particular will likely always be profitable. That said, it is likely there will be some cuts going forward just to trim the operating expenses.
Yeah, from business perspective this seems to actually be pretty sensible. Verified accounts largely represent official accounts from companies such as news orgs. Paying 20 bucks a month for verification is pocket change for them, and they will do it to continue having official presence on the platform. There are literally millions of such accounts translating into tens of millions in monthly revenue.
This approach also creates a direct monetization model as opposed to the current indirect ads/analytics based revenue stream. Ad revenue is currently crashing as US economy enters a recession. Both Fb and Google are showing huge losses and doing layoffs already. Focusing on the main product would also likely allow cutting down on the employees significantly which is something that Musk keeps talking about.
yep as much as I dislike Elon’s politics, this is actually a good business move.
Though I doubt this will impact the ads/analytics side of things.
Yeah, I can’t see them dumping that entirely either. Data analytics in particular will likely always be profitable. That said, it is likely there will be some cuts going forward just to trim the operating expenses.