The CEO of X (formerly Twitter), Linda Yaccarino has announced that the platform has disbursed nearly $20 million to content creators.
Announcing this, Linda wrote on her X handle,
“Create. Connect. Collect all on X. We’re enabling the economic success of new segments like creators. And so far we’ve paid out almost $20 million to our creator community”.
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Create. Connect. Collect all on X. We’re enabling the economic success of new segments like creators. And so far we've paid out almost $20 million to our creator community. https://t.co/kk137uPkAo
— Linda Yaccarino (@lindayaX) September 29, 2023
X officially launched its ads revenue sharing for content creators on July 2023, an initiative introduced to compensate creators for generating revenue from their posts and replies.
During the launch, X CEO Linda Yaccarino expressed her enthusiasm for the program, stating that it represents an absolute game changer for the platform’s creators.
The platform began paying verified creators in July, the same month the ads revenue was rolled out. According to Musk, the first payments which were cumulative from February onward, totaled around $5 million. Musk clarified that the revenue payout to content creators would be cumulative.
In order to participate in X’s ads revenue sharing program, users must meet specific criteria. Firstly, they need to be verified subscribers. Secondly, they must have garnered a minimum of 15 million impressions on all of their posts within the last three months.
Once a user has accumulated at least $50 in revenue, they automatically become eligible for regular payouts. This enables creators to receive their rightful share of the ad revenue generated from their posts in a timely and consistent manner.
With these promising strides towards empowering content creators, X aspires to foster a thriving community where talents can flourish and be duly rewarded for their contributions.
X is hoping to attract more content creators via ad revenue payouts to users who are subscribed to X Blue. By appealing to content creators with potential compensation, marketers, agency execs and content creators believe it could boost X Blue subscribers as well as retool the way that creators view the app.
It is worth noting that several marketers are eyeing X’s willingness to pay out a portion of its advertising revenue share as a way to mitigate its problems after Musk’s takeover and rebranding.
In its bid to lure more users and Blue subscribers, X in August this year, rolled out a new initiative aimed at luring smaller businesses to advertise on its platform. The company announced that it would offer a one-time ad credit of $250 to select businesses when they spend $1,000 or more on new ad campaigns over the next 30 days.
Ever since Musk took over the platform last year October, he disclosed that X (formerly Twitter) has been unprofitable for a long time, which has spurred him to roll out different revenue-generating programs on the platform.
Musk also wants to turn the app into an everything app that can serve users in so many areas, from payments to shopping, etc.