Elon Musk tweeted this morning that brands and commercial users may have to pay to use Twitter.
The news follows last week’s announcement that the business magnate had acquired the social media app for $54.20 a share, in a transaction valued at $44 billion.
Musk wrote: “Ultimately, the downfall of the Freemasons was giving away their stone-cutting services for nothing.”
“Twitter will always be free for casual users, but maybe a slight cost for commercial/government users.”
The decision will likely affect marketers across the globe who had previously paid nothing to promote brands and companies.
According to Campaign, advertisers from across the globe invested $4.5 billion on Twitter in 2021, up from $3.2 billion in 2020.
These plans may have been considered as part of a plan to increase the social media company’s revenue, which has fallen behind its main competitor Meta.
READ MORE: Elon Musk buys Twitter for $44 billion
Last week, Musk’s promise to liberate Twitter and promote “free speech” went viral.
“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” said Musk.
“I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans.”
“Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it.”
Several intrigued business owners aired their thoughts on news that they may have to pay to advertise.
One Twitter used said: “I am a nonprofit that operates on 2%. We literally are the only Twitter 501c3. I started on Twitter and I have raised $6+Million on this platform. Are we exempt? We are helping thousands of veterans across the country. We are eternally grateful you are taking on FREE SPEECH!”
I am a nonprofit that operates on 2%. We literally are the only Twitter 501c3. I started on Twitter and I have raised $6+Million on this platform. Are we exempt? We are helping thousands of veterans across the country.
We are eternally grateful you are taking on FREE SPEECH!
— Code of Vets ™ (@codeofvets) May 3, 2022
Another user added: “I do have a question about this idea. I’ve seen a few similar comments, but what exactly happens when these government/commercial users go to another completely FREE platform OR create one of their own?”
I do have a question about this idea. I’ve seen a few similar comments, but what exactly happens when these government/commercial users go to another completely FREE platform OR create one of their own 😉
— Joey Stillz (@JoeyStillz1002) May 4, 2022
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