According to The Verge, new Twitter boss and CEO, Elon Musk, has given employees their first ultimatum to introduce paid Twitter verification by November 7th, or leave the company.
The Verge’s sources have said that Twitter is currently planning to charge $19.99 for the new Twitter Blue subscription, which will include Twitter verification.
It’s been alleged that if existing verified members do not subscribe to the new Twitter Blue subscription within 90 days, they’ll lose their verification status.
A large amount of Twitter’s revenue comes from advertising, which is something Musk has been adamant about reducing in favor of a subscription-based model. Musk wants at least 50% of Twitter’s revenue to be subscriptions by 2028.
Several hours ago, Musk himself Tweeted “The whole verification process is being revamped right now”.
Earlier in the year, Musk said that he believes he double Twitter’s revenue by subscriptions by 2028 by increasing Twitter Blue subscriptions to 69 million in 2025 and more than doubling that number to 159 million in 2028.
According to the official Twitter Verified handle, there are currently 423,000 people verified on Twitter. If all 423,000 people were to subscribe to Twitter Blue within 90 days, Twitter’s earnings would increase by $100 million from current verification handles alone. However, it’s a long stretch away from the predicted 69 million by 2025.
The Verge has also reported that Musk is planning to lay off middle managers and engineers who haven’t recently contributed to the code base. Those cuts are expected to begin this week with managers already creating lists of employees to cut.
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