30, November, 2023
HomeTechnologyX Social Media Platform Celebrates Success: $20 Million Payout to Creators

X Social Media Platform Celebrates Success: $20 Million Payout to Creators

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Social media platform X, formerly known as Twitter, has made significant strides in retaining users and promoting content creation by sharing ad revenue with its creators. CEO Linda Yaccarino recently announced that the platform has disbursed nearly $20 million (approximately ₹166 crore) to its creator community since implementing this initiative in July.

Yaccarino emphasized X’s commitment to fostering economic success for various segments, particularly content creators. This approach seeks to ensure that creators are adequately rewarded for their contributions to the platform’s ecosystem.

Under the leadership of Elon Musk, who assumed control of X nearly a year ago, the platform has faced financial challenges. Changes in content moderation policies prompted concerns among advertisers, leading some to withdraw their ads due to concerns about brand safety.

In response to declining user engagement, X introduced a novel incentive: users would receive compensation for generating more replies to their posts. This announcement ushered in a new era of content creation on the platform, with creators using X as a vehicle to share their content with a broader audience.

According to Elon Musk, the first creator payment was made in July, totaling $5 million. Creators from around the world, including India, eagerly shared screenshots of the payments they received from X.

In a recent interview at Code 2023, CEO Linda Yaccarino acknowledged the challenges faced by X since Elon Musk’s takeover. The platform experienced an 11.6% decline in daily active users, with the user count dropping from 254.5 million to 225 million, as reported by the platform’s senior executive. Yaccarino also outlined the platform’s objective to achieve profitability by 2024, reflecting X’s ongoing efforts to revitalize and sustain its presence in the ever-evolving social media landscape.

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