By Sam Boughedda
Twitter Inc (NYSE:TWTR) owner Elon Musk stated in a tweet that the social media platform's blue tick will cost users $8 per month.
After initial reports that Musk was looking into the possibility of charging $20 for a blue tick on Twitter, Musk then floated the idea of charging $8 per month before announcing the move today.
"Power to the people! Blue for $8/month," wrote Musk.
He also asserted that "Twitter's current lords & peasants system for who has or doesn't have a blue checkmark is bulls***."
Musk, who is also the CEO of electric vehicle giant Tesla (NASDAQ:TSLA), explained that the price will be adjusted by country proportionate to purchasing power parity.
For the monthly fee, Musk said users will get priority in replies, mentions and search, which he said is "essential to defeat spam/scam," the ability to post long videos and audio, and half as many ads.
In addition, Musk stated that Twitter will have a paywall bypass for publishers willing to work with them.
"This will also give Twitter a revenue stream to reward content creators," he concluded.