Final hours! Save up to 55% OFF InvestingProCLAIM SALE

X social media to test $1 annual subscription for basic features

Published 10/17/2023, 08:33 PM
Updated 10/18/2023, 04:45 AM
© Reuters. FILE PHOTO: The logo of social media platform X, formerly Twitter, is seen alongside the former logo in this illustration taken, July 24, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
X
-

(Reuters) - Social media platform X, formerly known as Twitter, said on Tuesday it will test a new subscription model under which it will charge $1 annual fee for basic features.

The new subscription termed as "Not A Bot" will charge users for likes, reposts or quoting other accounts' posts, and bookmarking posts on the web version of the platform.

The purpose of introducing the new subscription model is to combat bots and spammers, X said, adding that the fee will vary from country to country based on the exchange rate.

X said the new method will be first available for users in New Zealand and Philippines.

Within this test, existing users are not affected. But new users who would not wish to subscribe will only be able to view and read posts, watch videos and follow accounts.

© Reuters. FILE PHOTO: The logo of social media platform X, formerly Twitter, is seen alongside the former logo in this illustration taken, July 24, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

Bots have been a contentious issue for Elon Musk who acquired the company last year. In July, X had introduced a limit on viewing tweets, "to ensure the authenticity" of its user base.

Earlier this month, Reuters had reported citing a source that X CEO Linda Yaccarino met with X's lenders, in which she had said the company would test three tiers of its subscription service based on the number of ads shown to the user.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.