Elon Musk confirms launch of two new premium tiers for X with an aim to ‘eliminate’ bots

Elon Musk, the owner of X (formerly Twitter), has confirmed the launch of two new premium tiers. One tier will be cheaper than the current $8 per month plan but won't eliminate ads, while the other will be pricier, offering an ad-free experience.

The exact pricing for these tiers remains undisclosed. Additionally, Bloomberg reported the company's testing of various paid plans to boost revenue. According to Elon Musk, the paid subscription is basically for bots concerns.

X is also striving to attract advertisers with Linda Yaccarino as CEO and is emphasising appealing metrics.

Two new tiers of X Premium subscriptions launching soon.

One is lower cost with all features, but no reduction in ads, and the other is more expensive, but has no ads.

— Elon Musk (@elonmusk) October 20, 2023

X's revenue boost efforts

Musk and his team are looking to explore novel methods to grow X's revenue, including a $1 year plan in New Zealand and the Philippines for basic functionality. According to the social posts, this move aims to remove bots from the platform and is not a way to earn profit.

Addressing ad revenue decline

Since Elon Musk bought X in October 2022, the social media platform's ad revenue in the US has consistently dropped by at least 55 percent year-on-year each month.

Now, they're working to make more money from subscriptions. With Linda Yaccarino as CEO, they want to get more advertisers and show impressive numbers. They say X has about 245 million people using it every day and 500 million posts daily.

While the new revenue model might make X a bot-free zone for users to communicate, many would be apprehensive to pay for a service they have been using all these years for free. Not to mention that there is a certain Threads (by Instgaram) lurking in the shadows to eat up X’s market share in terms of users.