Twitter will always remain free for “casual users” but government and commercial users may see a “slight cost” to stay on the social media platform, the company’s would-be owner Elon Musk said in a tweet Tuesday.
Musk, whose bid to purchase Twitter Inc. for $44 billion and take the company private was accepted by Twitter’s board last week, pitched bankers on the idea of new business models for the service during conversations last month to line up financing for the deal. The majority of revenue generated by the social network comes from advertising.
While the company is trying to expand in other areas such as subscriptions recently, it has not yet been able to do so. Twitter executives have been discussing subscriptions for many years. Last summer, the company unveiled Twitter Blue ($2.99/month).
But Twitter Blue is targeted toward the service’s most dedicated users and not business or government accounts, though some aspects of the Twitter Blue service — like the ability to post longer videos — might appeal primarily to commercial accounts. Twitter sells additional products for commercial customers, such as access to Twitter API that can help businesses analyze their brand and market.
Musk said to potential investors that Twitter would be available for public sale within three years. The Wall Street Journal reports Tuesday that Musk spoke with people familiar about the subject.
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