Elon Musk announces new 'lavish' Twitter subscription for ads-free service

Elon Musk tweeted on Saturday January 21, 2023 announcing the new development. However Twitter was unavailable to comment according to YahooFinance.

Musk said the current advertisements are "too frequent and too big" on the platform. He said steps will be taken to resolve this issue in the coming month.

Almost 90% of Twitter's earnings in revenue come out of selling digital advertisements. The billionaire attributed recent "massive drop in revenue" to rights organisations bombarding brands to pause their investments in Twitter ads.

The new hit to the Twitter ads comes a few weeks after Musk announced that the monetised Twitter's Basic Blue Tick will have fewer ads than the unverified account.

The higher subscription will have zero advertisements.

Reactions from YahooFinance

"Twitter has never made a profit, so of course Elon is going to do more things. Cutting a bloated staff was a start. So many employee's, and they didn't have to create content. What were they doing all day? Elon is doing what Jack Dorsey knew had to be done. He has even admitted they grew way bigger than they should have. But trying to fix it makes Elon the bad guy." - Super Rob.

"Funny to think people will pay up to $20 per month for Twitter. Not going to happen." - D.

"There is certainly a way to include productive advertising on Twitter, it just seems they haven’t figured it out. After all, how are creators going to be rewarded." - Dan.

"What? Twitter is headed into bankruptcy and lacks cash to pay their bills. Elon you have loss over 50% of your ad's revenue from major companies. My Pillow would be a welcomed addition to your group of advertisers with some great promo codes. My Pillow has some wonderful deals on pipes with discreet and free shipping now." - Marc.