It has been reported that Twitter, the social media giant, is looking to make money by charging businesses using its platform a $1,000 monthly fee for gold checkmarks. Those brands that fail to pay the fee will eventually lose their gold badges, although the timeline for this loss is unclear.
Moreover, Twitter is considering charging $50 per month for each badge added to an account, according to internal conversations obtained by The Information. According to an email exchange between Twitter product manager Evan Jones and an unnamed company, early access subscribers will receive a gold checkmark for their organization and affiliation badges for their associates. If you’d like to subscribe, Verified for Organizations is $1,000 per month, and $50 per additional affiliated handle per month with one month of free affiliations.”
A new program called Verification for Organizations, formerly known as Blue for Business, was launched by Twitter last month. Through the program, businesses are able to verify and identify themselves on Twitter, as well as add badges to accounts associated with their organization. There has yet to be an official announcement regarding the subscription price.
Several modifications are being made by Twitter CEO Elon Musk in order to increase sales and reduce the company’s $12.5 billion debt. He is charging users $8 a month for a blue checkmark and will soon require developers to pay for API access. Musk claims that only creators who pay for Blue will be eligible for ad earnings, and that he will only share Twitter’s ad revenue with them. The company has been in default on rent, including at its San Francisco headquarters, and has been auctioning off office equipment and other assets.
Twitter’s new move to increase revenue comes amidst the backdrop of several businesses seeking to establish their presence on the platform and reach a wider audience. Despite the $1,000 monthly fee, it may be well worth the investment for many businesses who wish to obtain a verified status and connect with potential clients. Only time will tell how this new strategy will play out for Twitter and its users.
