San Francisco: X (formerly Twitter) is reportedly planning to split its premium paid subscription service into three membership tiers to earn more money and become profitable by 2024.
According to reports, X would split the current $8 Premium subscription into three different plans: Basic, Standard, and Plus, at various price points.
According to a Bloomberg report, citing sources, it remains unclear if a free X version will continue to exist.
The entry-level Basic plan will not reduce the number of ads that users see on the platform.
The Standard tier will show half as many ads and the top Plus premium offering will remove ads entirely and may cost more than $8 per month.
During a briefing by X CEO Linda Yaccarino to X debt holders, she reportedly told them that the company’s advertising, data licensing, and subscription revenue is growing quarter over quarter “in the high single digits”.
X or its owner Elon Musk were yet to react to reports.
Yaccarino asserted last month that the company will be profitable by early 2024, adding that the platform may now have 200-250 million daily active users.
Speaking at the Code conference, she said “we have a good set of eyes on what is predictable” and “what’s coming is that it looks like in early 2024, we will be turning a profit”.
Yaccarino said that “90 per cent of the top 100 advertisers have returned to the platform in the last 12 weeks alone.”
She said that about 1,500 advertisers have returned to the platform.
X is yet to announce an annual profit in its 13 years, and has struggled to maintain profitability.
She, however, did not confirm if the company plans to charge all users on X, as suggested by its billionaire owner Elon Musk.
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