Twitter to take 10% cut on content subscriptions after 12 months

Elon Musk has been bringing in changes at Twitter to boost revenue after the platform saw advertising income drop last year

Twitter Inc CEO Elon Musk said on Friday that the social media platform will take a 10% cut on content subscriptions after the first year, as the company looks to monetize content on the website in a bid to diversify its revenue sources.

Earlier this month, billionaire owner Musk said users of the social media platform will be able to offer their followers subscriptions to content, including long-form text and hours-long video.

He had also said that the company will not take a cut for the first 12 months on content subscriptions.

Musk has been bringing in changes at Twitter to boost revenue after the platform saw advertising income drop last year in the run up to his $44 billion acquisition that closed in October.

He added that the company's cut from subscriptions on iOS and Android platforms will drop to 15% in the second year from 30% in the first.

The sources familiar with the matter, who declined to be identified due to the sensitivity of the issue, said Washington took control of the oil cargo aboard the Marshall Islands tanker Suez Rajan after securing an earlier court order. The tanker's last reported position was near southern Africa on April 22, ship tracking data showed.

The vessel's Greece-based manager, Empire Navigation, and the US Department of Justice did not immediately respond to requests for comment.

The US Navy said Iran seized a Marshall Islands-flagged tanker in the Gulf of Oman on Thursday, the latest seizure or attack by Tehran on commercial vessels in sensitive Gulf waters.

Iranian state TV said on Friday the tanker ignored radio calls for eight hours following a collision with an Iranian boat, which left several crewmen injured and three missing."Before using force, we tried to call the vessel ...to stop but they did not cooperate," Iranian deputy navy commander Rear Admiral Mostafa Tajodini told the broadcaster.