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X (formerly Twitter) CEO Linda Yaccarino says the platform has paid nearly $20 million to content creators, Techcrunch reports.
Most social platforms have started to share advertising revenues with content creators. As a result, creators are encouraged to double their efforts and make more appealing, high-quality content. Back in July, X also stated that it wants to pay a fair share to content creators in exchange for showing ads in their profiles.
Of course, the users should meet specific qualifications to get money, including having over 500 followers, being an X Premium user, and making over 5 million tweet impressions in the last three months.
“Create. Connect. Collect all on X. We’re enabling the economic success of new segments like creators. And so far, we’ve paid out almost $20 million to our creator community.” X CEO Linda Yaccarino said in her tweet.
X content creators are now receiving their share of advertising revenues
In June, Elon Musk announced the company’s first block payment to creators valued at $5 million. Since X only counts the ads served to verified users, the $20 million payment to creators means ads in the platform generate more impressions or more content creators have joined the program.
Content creators traditionally tend to operate on video-based platforms as they usually pay per-view or other engagement factors. They previously considered X a platform to share their inner thoughts and engage with friends and fans rather than a place to share content and monetize it. The transition would help X to get more creators to subscribe to X Premium and produce more valid content.
While the reports already pointed out that X’s ad revenue has plummeted by 59% and the company failed to send payouts on time, the platform’s $20 million payment shows Musk wants to keep creators at all costs. Likewise, TikTok and YouTube are now paying tempting figures to their creators to keep them motivated to engage users.