X recently made headlines with the announcement of their new Premium+ subscription plan, aimed at providing users with an enhanced experience on the platform. The plan comes with a price tag of $16 per month and promises “the largest reply boost” for subscribers. In this article, we will take a critical look at this new offering and analyze its potential impact on the platform.
The Premium+ plan builds upon the existing subscription options offered by X. While the Blue subscription plan costs $3 per month and the Premium Plan is priced at $8 per month, the Premium+ plan takes it a step further by offering additional features. These features include a blue tick next to names in profiles, serving as a badge of authenticity, and a visible ID verification label. It is clear that X is targeting users who value credibility and verification on the platform.
Since Elon Musk acquired X a year ago, he has made several controversial changes to the social media platform. Musk’s rapid firing of Twitter executives and decision to take the publicly traded company private caused upheaval within the organization. Furthermore, he laid off a significant portion of the workforce, resulting in a drastic reduction in staff. These decisions drew criticism from both industry experts and users.
Moreover, Musk implemented changes to the content moderation policies, allowing the restoration of previously banned extremist accounts. This move was met with widespread backlash as it seemed to prioritize free speech over the safety and well-being of users. Musk defended these changes as a commitment to free speech, but many believe it compromised the integrity and trustworthiness of the platform.
In an attempt to generate revenue, Musk started charging for features that were once free on Twitter. The introduction of the Premium+ plan is another step in this direction. However, this shift towards subscription-based revenue models has had a detrimental impact on X’s advertising business. Marketers have become increasingly reluctant to advertise on the platform, dampening its appeal as an advertising medium.
One of Musk’s ambitions for X is to transform it into an “everything app” similar to China’s WeChat. This vision encompasses not only socializing but also financial transactions and more. The recent tinkering with video and audio calling suggests that X is actively working towards realizing this ambition. While the idea is ambitious, it remains to be seen whether X can successfully compete in this space and attract a diverse range of users.
X’s Premium+ subscription plan marks the company’s continued efforts to monetize the platform and enhance user experiences. However, the implementation of controversial changes, the decline of the advertising business, and the transformation into an “everything app” raise important questions about the direction X is heading. It is yet to be seen how successful the Premium+ plan will be and whether it will drive the desired results for the platform.