X, formerly Twitter, has announced that it is starting a new experiment to charge a $1 per year fee for new users to interact with posts. The company said that the test is currently live in New Zealand and the Philippines, and existing users will not be affected.
The $1 annual fee for new unverified users is currently being tested by X. The company hopes that this fee will help to reduce spam and improve the quality of interactions on the platform. The move is part of X’s broader efforts to become profitable, which includes cutting costs and exploring new revenue streams.
X’s latest experiment is just one of many changes that the company has made in recent months. In June, X started requiring users to log into the site to view posts, but later withdrew this requirement and allowed logged-out users to look at posts. The company has also been taking steps to reduce spam and improve the quality of interactions on the platform.
X’s efforts to become profitable have been ongoing since Elon Musk‘s $44 billion acquisition of the company. The company’s CEO, Linda Yaccarino, has stated that X will be profitable in 2024. The company has been exploring new revenue streams, including charging users for access to premium features and content.
It remains to be seen whether X will decide to roll out the fee to other countries or to all users. However, the test is a sign that the company is exploring new ways to generate revenue and to make the platform more sustainable in the long term.