Twitter to take 10% cut on content subscriptions after 12 months

Twitter Inc. will take a 10% cut on content subscriptions after the first year, as the firm seeks to monetize content on the website in order to diversify its revenue sources, CEO of the social media platform Elon Musk on Friday (28) said. 

"Users of the social media network will be able to provide subscriptions, including long-form text and hours-long video, to their followers," Musk said earlier this month.

"The company will not take a cut on content subscriptions for the first 12 months," he added.