Elon Musk's venture X, paid over $50 million in ad sharing to content creators on its platform, which is for video content, as shared by CEO Linda Yaccarino.
When Musk bought Twitter in October 2022, the platform was used essentially as a 140-character messaging service.
"Now, less than 18 months later, it is a ‘video-first’ platform, and part of what's driving that success is inviting creators onto our platform,” Yaccarino remarked.
At the time of its acquisition for $44 billion, there were approximately 3,500 creators on the platform.
“Now, our video capabilities have become so sophisticated that we've probably got over 150,000 creators on the platform and paid out over $50 million in ad-sharing relationships with those creators,” she stated.
X is actively recruiting more creators to enhance the experience for its 600 million monthly active users (MAUs) “the ultimate experience”.
Yaccarino recently unveiled plans for X to introduce a dedicated TV app, allowing users to upload high-quality videos, akin to YouTube owned by Google.
“go-to companion for a high-quality, immersive entertainment experience on a larger screen,” she posted.
Users of X can anticipate trending video algorithms, AI-powered topics, and seamless cross-device experiences, among other features.
The tech mogul aims to transform X into an all-encompassing app “an everything app”.
According to him, X boasts 600 million monthly active users, with approximately half of them engaging with the platform daily.
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