Elon Musk wants to charge corporations high verification fees in an effort to rescue Twitter from its current predicament. Business Twitter handles would reportedly have to pay Twitter up to $1,000 per month in fees in order to keep their gold badge, which gave them exclusivity on the network.
The emails received by Twitter workers to some internet users indicate that the plan is nearing completion even if the specifics and the launch date of the feature have not yet been decided. Social media expert Matt Navarra published screenshots of the brand-new plan, dubbed “Verified for Organization.”
“If you’d like to subscribe, verified for organizations is $1,000 per month”
“As an early access subscriber, you’ll get a gold checkmark for your organization and affiliation badges for its associates,” read the screengrab of an email shared by Navarra. “If you’d like to subscribe, Verified for Organizations is $1,000 per month and $50 per additional affiliated handle per month with one month of free affiliations.”
Following a protracted back-and-forth, Musk assumed control of Twitter in October of last year. Since then, he has repeatedly reiterated that the microblogging network does not generate enough cash to support itself in the long run. Musk first designed the $8 checkmark feature with survival in mind. However, malevolent actors exploited the feature to pose as real people and companies, resulting in millions of dollars in losses. As a result, Twitter disabled the service while waiting for stronger rules.
The $1000 verification fee comes in the backdrop of Musk announcing a more expensive ad-free subscription plan last month
Twitter unveiled its organization and affiliate verification method in December of last year after correcting the issue. Businesses were given access to the gold badges in order to authenticate and set themselves apart on the site.
The $1000 verification fee comes in the backdrop of Musk announcing a more expensive ad-free subscription plan last month. “Ads are too frequent on Twitter and too big. Taking steps to address both in coming weeks,” Musk tweeted, without elaborating how the new subscription model will be priced. “There will be a higher priced subscription that allows zero ads” for those who wish for the service.
Digital ad sales account for over 90% of Twitter’s revenue, and Musk recently blamed a “huge decrease in revenue” on rights groups that persuaded companies to suspend their Twitter advertising. Some of the losses are anticipated to be compensated by the subscription model.