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Elon Musk, who took over the micro-blogging platform Twitter, has the courage to innovate in many ways. From introducing videos to subscriptions, Musk has everything to say about the future of the platform.
However, in recent events, Musk said that the platform will beat YouTube when it comes to distributing money to creators. Currently, creators are paid a 55% cut of ads on YouTube.
https://twitter.com/elonmusk/status/1589024671252770833?t=YwXzGYdNRr9vMB4V8mqjNw&s=08
Musk announced this while discussing the future of the company.
BestMediaInfo.com spoke with industry leaders to find out if Twitter can beat Instagram and YouTube to become the creator’s leading platform.
According to Arun Prabhudesai, Founder, Armoks Media, while nothing is impossible, Twitter may soon beat YouTube when it comes to sharing revenue with creators. “We know that Elon Musk is very confident about monetization. It is possible; however, I do not see it happening for two years. YouTube and video are very mature, on the other hand, Twitter it’s a micro-platform that focuses on text. For them to update this to video, it’s work. There’s a lot to look at when YouTube is almost 16 years old.”
Prabhudesai says another big challenge for Twitter is to tackle brand safety. “YouTube also has content guidelines so that advertisers know their ads are safe. Another important step for Musk is to ensure a safe environment. I think the fastest way for them to update it is “Twitter is updating Vines, and integrating them into Twitter like YouTube did with Clips,” he explained.
Echoing similar sentiments, Ayush Shukla, the founder of Finnet Media, said that it is time for Twitter to increase their creator contributions. “Instagram is a video-first platform, Twitter is a text-first platform. Most of the smartest and most influential people in the world are on Twitter and that’s its value. Those people who don’t make videos, won’t make videos. So, it’s going to be difficult. When Twitter does something like SnapChat, they’re asking creators to make videos on the site.
Ayush Guha, Head of Business Development and Strategy at HYPP, said he believes Musk’s plan is to make money for developers.
“He knows how to make bold statements and make statements sometimes. However, from a business point of view, I hope this happens because I want producers to be everywhere. the audience on Twitter is because of text; however, video is more important today,” he explained.
Commenting on how creators feel about Twitter, influencer Harjinder Singh Kukreja said, “Instagram has learned a lot from TikTok. I think this year we can all learn from it. Elon Musk is new. It will be interesting to see what the creator of Tesla and SpaceX brings to Twitter.
Another CEO said that many developers are not using Twitter these days. “Honestly, I don’t use Twitter and Twitter for me is a very ‘intelligent’ place. I’ve always seen Twitter as a platform for conversations more than for entertainment and creating content.
What are the opportunities for creators on Twitter now?
Shivam Agarwal, Founder, Deckster.Live, said Twitter is an important part of the maker economy. He said many creators, especially YouTubers, use it to build credibility and drive traffic to their streams.
“Twitter is also the right platform for most official ads because it’s more authentic and reliable. Twitter is still one of the most popular social media platforms for bloggers today. We’ve seen Instagram move away from photos and text after the success of TikToks and YouTube remains largely a video platform. They have the right difference. “Incorporating a short video format can have a huge impact with programs aimed at businesses and entrepreneurs, sharing political ideas is one of the ways to grow,” he explained.
According to Finnet Media’s Shukla, creators should take a close look at Twitter because they can make money through various channels like the Twitter ‘Tip jar.’ He said influencers need to focus on the platform and adapt and create content to be effective.
Experts say that while there are many unanswered questions about the platform now, Musk has a vision for the future.
For example, Musk has also said that they will introduce a subscription plan that will cost $8 for a blue token on the platform. In the past, fans, politicians, actors, artists, etc. were given blue badges based on algorithms. However, experts believe the move will generate more revenue for the foundation.
“The definition of the blue sign is different. By introducing subscription fees, they want to reduce spam accounts. More than 10-11% of Twitter is just spam accounts. So subscriptions reduce in space accounts. Right now, there is no clarity about who will get blue points. So, I think the goal is to bring awareness and generate revenue from them,” said Shukla.
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