"We Won't Pay": Musk Makes Changes to Creator Revenue Sharing, Says Idea is to Prioritize Accuracy
- Elon Musk has announced a significant change to creator revenue on X to combat sensationalism
- The billionaire stated that any post on the platform that Community Notes corrects would be demonetized
- Musk's comment drew mixed reactions from users on the platform who see the move as censorship
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To discourage sensationalism and promote accuracy, Elon Musk says X, formerly Twitter, is making changes to creator revenue.
The billionaire announced via his personal X handle on Sunday, October 29, 2023, that any post that Community Notes correct on the platform would be disqualified from participating in the creator revenue-sharing formula.
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No revenue for sensational posts
"Making a slight change to creator monetization: Any posts corrected by @CommunityNotes become ineligible for revenue share. The idea is to maximize the incentive for accuracy over sensationalism."
Community Notes is an open-source platform available on GitHub.
Users call move censorship
Musk's announcement has received a lot of flacks, with many calling the move amounts to censorship.
The Tesla CEO quickly added that the move was not to weaponize and demonetize people via Community Notes.
"Worth "noting" that any attempts to weaponize @CommunityNotes to demonetize people will be immediately obvious because all code and data is open source," Musk stated in a follow-up tweet.
One person responded: "And that is how you censor. What happens when insiders of community notes form a fringe group to target opposing opinions after this announcement?"
Another said: "That's a good decision. Some ugly people make money with community notes. It was a nuisance."
Musk begins paying content creators on X
In June 2023, X, the popular micro-blogging site, introduced a new initiative that allows verified content creators to receive payment for including ads in their replies.
Elon Musk, the company owner who acquired Twitter in October last year, announced in a tweet.
According to him, the first payment block was expected to amount to approximately $5 million, about N2.3 billion.
X is yet to recover from revenue losses
However, Musk emphasized that only verified users would be eligible for these payments, CNN reports.
The decision comes as Twitter faces challenges in retaining advertisers following a wave of layoffs.
A decline followed the acquisition by Elon Musk in advertiser confidence, as they hesitated to place their ads on the platform. Furthermore, the introduction of $8 monthly charges for verification has been met with resistance from some influential users.
Musk plans for X to take over the global financial system
Legit.ng reported that the world's richest man intends to make the platform a giant payment company and reportedly asked his staff to change their bank accounts in the next 12 months.
He wants the new features to launch by the end of 2024, he reportedly told X employees during a call on Thursday, October 26, 2023, saying that people will be shocked by the new features.
The company is working on taking over money transmission licenses across the US to offer financial services in a few months. The billionaire has plans to turn the company into a massive financial hub.
According to the Verge, X CEO Linda Yaccarino, the social media company is becoming a full opportunity in 2024.
Jubilation as Elon Musk pays Nigerian content creators on Twitter; users display bank balance
Legit.ng reported that Twitter content creators and social media influencers in Nigeria have begun receiving payments from X, formerly Twitter, via its ad revenue-sharing model.
The payment, which began in the US in July, saw Nigerian users display various sums received from the microblogging site.
The company announced the programme's extension to global users at the end of July.
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Source: Legit.ng
