Elon Musk is taking on newsletter service Substack by introducing a new monetization feature on Twitter.
Twitter Blue users will now be able to post tweets up to 10,000 characters in length with bold and italic text formatting and offer their followers subscriptions for long-form content.
Twitter will only take a small cut of the earnings for the first year, and then drop fees to 15 percent for iOS and Android.
This move is seen as a response to Substack, a subscription-based blogging and podcasting platform that allows creators to charge whatever fee they choose for their content.
While Twitter’s monetization feature isn’t new, the addition of long-form content is.
However, it’s not yet available, and Twitter is still trying to catch up to Substack’s offerings.
Non-Blue subscribers may also be eligible for account monetization, but it’s unclear if they’ll have access to the 10,000 character count.
Twitter’s move is seen as a direct challenge to Substack, which doesn’t charge creators a fee for using the platform.
Article updated 2 months ago. Content is written and modified by multiple authors.
