In an attempt to get Twitter out of the trenches, Elon Musk is looking to impose hefty verification fees on businesses. According to multiple reports, business Twitter handles will have to fork out as much as $1,000 per month in fees to Twitter or risk losing the gold badge that granted them exclusivity on the platform.
Though the details and the release date of the feature are yet to be finalised, the emails sent by Twitter employees to some netizens suggest that the proposal is in its final stages.
Social media consultant Matt Navarra shared screenshots of the new proposal which is being called ‘Verified for Organisation’.
“As an early access subscriber, you’ll get a gold checkmark for your organization and affiliation badges for its associates,” read the screengrab of an email shared by Navarra.
“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.”
Twitter is reportedly emailing businesses offering gold check mark verification for $1000 PER MONTH!
And affiliate account verification for $50 each per month pic.twitter.com/hohTPKLKdi
— Matt Navarra (@MattNavarra) February 3, 2023
After Musk took over Twitter in October last year following a lengthy back-and-forth, he has on multiple occasions said that the micro-blogging platform does not generate enough revenue to sustain itself in the long run.
Keeping survival in mind, Musk first introduced the $8 checkmark feature. However, malicious actors used the feature to impersonate individuals and businesses, causing millions in losses. Consequently, Twitter stopped the feature, pending better regulations.
After fixing the problem, Twitter, in December last year, announced its verification process for organisations and affiliates. The gold badges were rolled out for businesses to verify and distinguish themselves on the platform.
The $1000 verification fee comes in the backdrop of Musk announcing a more expensive ad-free subscription plan last month.
“Ads are too frequent on Twitter and too big. Taking steps to address both in coming weeks,” Musk tweeted, without elaborating how the new subscription model will be priced.
“There will be a higher priced subscription that allows zero ads” for those who wish for the service.
Nearly 90 per cent of Twitter’s revenue comes from selling digital ads and Musk recently attributed a “massive drop in revenue” to rights organisations that have pressured brands to pause their Twitter ads. The subscription model is expected to offset some of the losses.
(With inputs from agencies)