X is going to test three new paid premium membership tiers, to bring in extra revenue. The platform plans to dissect its current $8 Premium subscription into three different plans: Basic, Standard, and Plus, at different price points.
The subscription plan was first noticed by a user as the code revealed a 'Premium Basic,' 'Premium Standard' and 'Premium Plus' plan, will have full ads, half the ads, or no ads, respectively.
The current Premium version enables users to cut down on half the ads, which would fall under the 'Premium Standard' category. It is unclear on which tier of users might receive a verification badge. The platform is yet to clarify whether the free version will still be available, as per a Bloomberg report.
Elon Musk has previously stated that the app was moving towards a complete subscription model where all users would have to pay a small fee to combat bots on the platform.
While Musk and X CEO Linda Yaccarino have stated that many advertisers have returned to the platform, they are yet to reveal the company's annual profit. This new move is an attempt to make up for the poor ad revenue.
Yaccarino reportedly told X debt holders, that the company's advertising, data licensing, and subscription revenue is growing quarter over quarter 'in the high single digits', during a briefing.
Speaking at the Code conference, she mentioned the platform has 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.'
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