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Twitter will reduce content subscriptions 10% after 12 months.

Photo: Twitter

Twitter Inc. CEO Elon Musk said that the social media network would take a 10% cut on content subscriptions after the first year to diversify its revenue.

This month, billionaire owner Musk announced that social media users could offer their followers subscriptions to long-form text and hours-long video.

He said that content subscriptions will not be cut for the first year.

After Twitter’s advertising revenue dropped last year ahead of his $44 billion acquisition, Musk has made changes to boost revenue.

He noted that the company’s portion from iOS and Android subscriptions would reduce to 15% in the second year from 30% in the first.

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