Elon Musk has just announced two tiers of X Premium subscriptions as X, formerly Twitter, looks to bolster its revenue.
What Happened: Musk has revealed that the X Premium subscription experience is evolving, with two tiers launching soon.
"Two new tiers of X Premium subscriptions launching soon," Musk said in a post on Oct. 20.
X Premium currently costs $8 per month or $85 per year for individuals. Although it currently offers a wide range of exclusive features, it still does not provide an ad-free experience. X Premium subscribers are still shown ads, but they are fewer in number compared to non-subscribers.
Musk says the second tier of the X Premium subscription will have no ads whatsoever.
It's unclear from Musk's post if the new X Premium subscriptions will start at the current price of $8 per month or if the ad-supported version will cost less.
"One is lower cost with all features, but no reduction in ads, and the other is more expensive, but has no ads," Musk said.
Why It Matters: The new development comes at a time when X is said to be struggling with advertisement revenue.
Although X CEO Linda Yaccarino has said that 90% of the advertisers are back on the platform, their spending has not yet reached historical levels, reported Bloomberg.
On his part, Musk has announced measures to control abuse and platform manipulation on X by charging a fee of $1 per year for new accounts in New Zealand and the Philippines.
It remains to be seen whether the new X Premium subscription tiers will boost the company's revenue or not.