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Twitter users can soon buy a blue checkmark ‘just like the celebrities’ for $8 a month

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Twitter has announced a subscription service for $7.99 US a month that includes a blue check now given only to verified accounts as new owner Elon Musk works to overhaul the platform’s verification system just ahead of U.S. midterm elections.

In an update to Apple iOS devices available in the U.S., Canada, Australia, New Zealand and the U.K, Twitter said users who “sign up now” can receive the blue checkmark next to their names “just like the celebrities, companies and politicians you already follow.”

But Twitter employee Esther Crawford tweeted Saturday that the “new Blue isn’t live yet — the sprint to our launch continues but some folks may see us making updates because we are testing and pushing changes in real-time.” Verified accounts did not appear to be losing their checks so far.

It was not immediately clear when the subscription would go live, and Crawford did not immediately respond to a message to clarify the timing. Twitter also did not immediately respond to a message for comment.

There is concern that anyone being able to get the blue check could lead to confusion and the rise of disinformation ahead of Tuesday’s elections, but Musk tweeted Saturday in response to a question about the risk of impostors impersonating verified people — such as politicians and election officials — that “Twitter will suspend the account attempting impersonation and keep the money!”

“So if scammers want to do this a million times, that’s just a whole bunch of free money,” he said.

But many fear widespread layoffs that began Friday could gut the guardrails of content moderation and verification on the social platform that public agencies, election boards, police departments and news outlets use to keep people reliably informed.

The change represents the end of Twitter’s current verification system, which was launched in 2009 to prevent impersonations of high-profile accounts such as celebrities and politicians. Before the overhaul, Twitter had about 423,000 verified accounts, many of them rank-and-file journalists from around the globe that the company verified regardless of how many followers they had.

Experts have raised serious concerns about upending the platform’s verification system which, while not perfect, has helped Twitter’s 238 million daily users determine whether the accounts they were getting information from were authentic. Current verified accounts include celebrities, athletes, influencers and other high-profile public figures, along with government agencies and politicians worldwide, journalists and news outlets, activists, and businesses and brands, and Musk himself.

“He knows the blue check has value, and he’s trying to exploit it quickly,” said Jennifer Grygiel, an associate professor of communications at Syracuse University and an expert on social media. “He needs to earn the trust of the people before he can sell them anything. Why would you buy a car from a salesman that you know has essentially proved to be chaotic?”

People walk outside Twitter headquarters in San Francisco on Friday. (Jeff Chiu/The Associated Press)

The update Twitter made to the iOS version of its app does not mention verification as part of the new “blue check” system. So far, the update is not available on Android devices.

Musk, who had earlier said he wants to “verify all humans” on Twitter, has floated that public figures would be identified in ways other than the blue check. Currently, for instance, government officials are identified with text under names stating they are posting from an official government account.

President Joe Biden’s @POTUS account, for example, says in grey letters it belongs to a “United States government official.”

Massive staff layoffs

The change comes a day after the company began laying off workers to cut costs and as more companies are pausing advertising on Twitter as a cautious corporate world waits to see how it will operate under its new owner.

About half of the company’s staff of 7,500 was let go, tweeted Yoel Roth, Twitter’s head of safety & integrity.

He said the company’s front-line content moderation staff was the group the least affected by the job cuts and that “efforts on election integrity — including harmful misinformation that can suppress the vote and combatting state-backed information operations — remain a top priority.”

Twitter co-founder Jack Dorsey on Saturday took blame for such widespread job losses. He had two runs as CEO of Twitter, with the most recent stretching from 2015 into 2021.

“I own the responsibility for why everyone is in this situation: I grew the company size too quickly,” he tweeted. “I apologize for that.”

Musk tweeted late Friday that there was no choice but to cut the jobs “when the company is losing over $4M/day.” He did not provide details on the daily losses at the company and said employees who lost their jobs were offered three months’ pay as a severance.

Meanwhile, Twitter has already seen “a massive drop in revenue” because of pressure from activist groups on advertisers to get off the platform, Musk tweeted Friday. That hits Twitter hard because of its heavy reliance on advertising to make money. During the first six months of this year, nearly $92 of every $100 it made in revenue came from advertising.

United Airlines became the latest major brand to pause advertising on Twitter. The Chicago-based company confirmed Saturday that it had made the move but declined to discuss the reasons for it or what it would need to see to resume advertising on the platform.

 

Elon Musk begins plan to cut half Twitter’s global workforce

 

Newly minted Twitter CEO Elon Musk has begun pushing forward with his plan to cut as much as half of the company’s global workforce, beginning with widespread layoffs at the social media company on Friday.

It joined the growing list of big companies pausing ads on Twitter, including General Motors, REI, General Mills and Audi.

Musk tried to reassure advertisers last week, saying Twitter would not become a “free-for-all hellscape” because of what he calls his commitment to free speech.

But concerns remain about whether a lighter touch on content moderation at Twitter will result in users sending out more offensive tweets. That could hurt companies’ brands if their advertisements appear next to them.

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Netflix’s subscriber growth slows as gains from password-sharing crackdown subside

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Netflix on Thursday reported that its subscriber growth slowed dramatically during the summer, a sign the huge gains from the video-streaming service’s crackdown on freeloading viewers is tapering off.

The 5.1 million subscribers that Netflix added during the July-September period represented a 42% decline from the total gained during the same time last year. Even so, the company’s revenue and profit rose at a faster pace than analysts had projected, according to FactSet Research.

Netflix ended September with 282.7 million worldwide subscribers — far more than any other streaming service.

The Los Gatos, California, company earned $2.36 billion, or $5.40 per share, a 41% increase from the same time last year. Revenue climbed 15% from a year ago to $9.82 billion. Netflix management predicted the company’s revenue will rise at the same 15% year-over-year pace during the October-December period, slightly than better than analysts have been expecting.

The strong financial performance in the past quarter coupled with the upbeat forecast eclipsed any worries about slowing subscriber growth. Netflix’s stock price surged nearly 4% in extended trading after the numbers came out, building upon a more than 40% increase in the company’s shares so far this year.

The past quarter’s subscriber gains were the lowest posted in any three-month period since the beginning of last year. That drop-off indicates Netflix is shifting to a new phase after reaping the benefits from a ban on the once-rampant practice of sharing account passwords that enabled an estimated 100 million people watch its popular service without paying for it.

The crackdown, triggered by a rare loss of subscribers coming out of the pandemic in 2022, helped Netflix add 57 million subscribers from June 2022 through this June — an average of more than 7 million per quarter, while many of its industry rivals have been struggling as households curbed their discretionary spending.

Netflix’s gains also were propelled by a low-priced version of its service that included commercials for the first time in its history. The company still is only getting a small fraction of its revenue from the 2-year-old advertising push, but Netflix is intensifying its focus on that segment of its business to help boost its profits.

In a letter to shareholder, Netflix reiterated previous cautionary notes about its expansion into advertising, though the low-priced option including commercials has become its fastest growing segment.

“We have much more work to do improving our offering for advertisers, which will be a priority over the next few years,” Netflix management wrote in the letter.

As part of its evolution, Netflix has been increasingly supplementing its lineup of scripted TV series and movies with live programming, such as a Labor Day spectacle featuring renowned glutton Joey Chestnut setting a world record for gorging on hot dogs in a showdown with his longtime nemesis Takeru Kobayashi.

Netflix will be trying to attract more viewer during the current quarter with a Nov. 15 fight pitting former heavyweight champion Mike Tyson against Jake Paul, a YouTube sensation turned boxer, and two National Football League games on Christmas Day.

The Canadian Press. All rights reserved.

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