Social media platform X, formerly known as Twitter, is gearing up for a significant transformation under the ownership of tech mogul Elon Musk. This shift could have far-reaching implications for news publishers operating on the platform. The change revolves around the way news links are displayed to users, eliminating headlines and accompanying text and emphasising primary images. The move has sparked curiosity and concern among users and content creators alike.
A Shift in News Link Presentation
News of this impending altercation surfaced in a report by Fortune on Monday, August 21st. Later that day, Musk himself confirmed the development with a direct post. Under the new approach, the platform will no longer showcase headlines and accompanying text alongside news links. Instead, users will only see the primary image, limiting their ability to preview content before clicking.
Currently, news links are presented on users’ timelines as “Cards”, featuring an image, a source address, and a condensed headline. This format has proven effective in driving user engagement and encouraging clicks, thus aiding news publishers in reaching their audiences.
Encouraging Premium Service Adoption
This adjustment in news link presentation may serve as a strategic move to boost the adoption of X’s premium service. By truncating the links and reducing the amount of visible information, users might be more inclined to include additional text with their posts. The premium service offers subscribers the ability to create longer posts with up to 25,000 characters, unlocking additional features and benefits.
The implications of these changes for advertisers on the platform remain uncertain. In July, Elon Musk disclosed that X boasted 540 million monthly users. These changes are part of a broader strategy aimed at positioning X as a more attractive option for content creators. Premium subscribers now have the ability to share extended videos, enjoy priority placement of their posts, and even receive a share of ad revenue.
Elon Musk’s History with Twitter
Elon Musk made his Twitter debut in June 2010 and amassed a substantial following of over 80 million by April 2022. In 2017, when a tweet suggested the prospect of Musk acquiring Twitter, Inc., his response was succinct yet intriguing, as he replied, “How much is it?”. Fast forward to March 24th, 2022, and Musk commenced a series of tweets characterised by criticism directed at Twitter itself.
Musk also engaged in a discourse concerning the future of social media with co-founder and former CEO of Twitter, Jack Dorsey. Furthermore, Musk explored the possibility of becoming an influential presence within Twitter’s governance structure, contemplating a role on the company’s board of directors. Musk proposed either taking the company private or even venturing into the creation of a rival social media platform.
Musk initiated the acquisition of Twitter stock on January 31, 2022. By April 4th, he had made a significant announcement, disclosing his ownership of 9.2% of the company’s shares, valued at a substantial $2.64 million. The announcement triggered a remarkable surge in Twitter’s stock, making the most significant intraday leap since the company’s IPO back in 2013.
Musk’s Acquisition of Twitter
On October 27th, Musk finalised the deal with Twitter, which was marked by the tweet, “The bird is freed”. Subsequently, he relieved many top executives of their duties, including Chief Financial Officer (CFO) Ned Segal, Vijaya Gadde, and General Counsel Sean Edgett. These executives were escorted out of Twitter’s headquarters under the watchful eye of security personnel.
Musk took on the role of CEO, orchestrating a merger between Twitter and X Holdings while dissolving Twitter’s existing board of directors. This move marked the end of Twitter’s status as an independent entity, giving rise to X Corp. The primary focus of the new company was to streamline its workforce and initiate a comprehensive overhaul of the platform’s mobile application.
On November 4th, Musk initiated a substantial workforce reduction, leading to the departure of approximately half of Twitter’s employees. Just two weeks later, he delivered an ultimatum to the remaining staff, challenging them to commit to an extremely hardcore work ethic in pursuit of his vision for Twitter 2.0. This led to hundreds of employees resigning in response to the company’s newfound direction.
Elon Musk’s Continued Impact on Twitter
Since taking ownership of Twitter, Musk has implemented a series of rapid and controversial changes to the platform. These changes have had a significant impact on the news media and a substantial portion of the platform’s user base. Musk’s actions have included suspending journalists from the platform and starting his journalistic endeavours through a project known as the Twitter Files.
In a recent post, Musk extended an invitation to journalists to embrace greater freedom and the potential for higher earnings by publishing directly on the platform. Following the takeover, Twitter’s public relations department was largely dismantled, and it ceased responding to media inquiries.
The transition in how news links are presented on X represents another significant step in Elon Musk’s ongoing efforts to reshape the platform and its relationship with the news media and content creators. The impact of this change on the platform’s ecosystem and the broader digital news landscape remains to be seen.
Frequently Asked Questions
When Was Musk’s Acquisition of Twitter Completed?
The full acquisition of Twitter by Musk was completed on October 27, 2022. This was after months of legal wrangling and a brief attempt by Musk to terminate the agreement. The deal was closed, with Musk becoming Twitter’s new owner and CEO.
What Changes Did Musk Implement on Twitter After Taking Over?
After taking over, Musk cut about half of the company’s workforce, renamed the company X Corp., took it private, and introduced a reading paywall for unverified accounts. He relaunched Twitter Blue.
What Future Plans Does Musk Have on Twitter?
There are several features in the pipeline, such as introducing a new feature known as “Twitter Spaces”, integrating cryptocurrency and blockchain technology, and introducing a decentralised version of Twitter that runs on a P2P network.
- AI2023.11.30Singapore Invests in AI Training for Professionals to Empower Healthcare
- CRYPTO2023.11.305 Takeaways From America’s Crypto Industry Biggest Crackdown in History
- GAMING2023.11.30Does Persona 5 Tactica Take Place After Strikers?
- AI2023.11.30AI in Pancreatic Cancer Detection: Will AI Doctors Aids Be Real?