Elon Musk is a name that often makes headlines. Whether it's for his prowess with his companies – Twitter, SpaceX and Tesla Motors – or for his risky strategic decisions, he's rarely out of the headlines.
Recently, he lost his spot as the world's richest man after a series of poor financial and executive decisions. However, he is determined to continue his breakthrough with his latest project: allowing individual articles to be read on Twitter in exchange for payment.
A new business model in the offing
The idea is not new, but it is quite controversial. Verifiable or reputable media sites, such as the Wall Street Journal or the Washington Post, are often inaccessible to people who don't want to pay a monthly subscription fee. Yet with the new feature in the works on Twitter, users would be able to pay a fraction of that amount for access to a particular article.
In a recent statement, Elon Musk revealed that Twitter plans to roll out a new feature next month. Publishers and media sites will now be able to charge users with a single click to access a specific article. According to the CEO, this would allow users who would never sign up for a monthly subscription to pay a fair price for access to the information they need.
Benefits for all
This change represents a great benefit to media organizations and the public. With this new business model, media organizations could benefit from a new audience that previously did not want to pay a monthly subscription fee. Users could also benefit from isolated access to the specific information they are looking for, without having to commit to an expensive monthly subscription.
It remains to be seen how Twitter will implement this feature, but in principle, it seems to be an attractive option for everyone. In Latin America, there is no information available on a possible implementation of this feature. To be continued…