X paid over ₹166 crore to creators, enabling their economic success, says CEO Linda Yaccarino

Social media platform X (formerly Twitter) CEO Linda Yaccarino revealed on Sunday that the platform paid out almost $20 million ( ₹around 166 crore) to our creator community. In a move to retain more users on its platform, X started sharing ad revenue with creators in July this year.

“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,” CEO Linda Yaccarino said in a post on X.

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Since Elon Musk took over X almost a year ago, the financial situation of the social media platform has plunged. As the social media platform changed its content moderation policies, the advertisers started leaving the platform saying that they don’t want their ads around inappropriate content.

The user count was also decreasing on the platform, after which X announced that the users would get paid for getting more replies to their posts on the platform. The announcement ushered a new wave of content on the platform with creators using X as another platform to spread their content.

As per Elon Musk, the first payment to a creator was made in July and it was worth $5 million. The creators from across the world including India shared screenshots of the money they received from Twitter.

Recently, CEO Linda Yaccarino said in an interview at Code 2023 that since Elon Musk’s takeover, X has lost 11.6% of daily active users. The number of users dropped from 254.5 million to 225 million, as per the top officer of the social media platform. Lina Yaccarino also mentioned that the objective of the X is to achieve profitability by 2024.