SUMMARY
- Elon Musk has been on a roll ever since his purchase of Twitter, which is now called X.
- Musk introduced streaming capabilities on the platform, however, there was much more to be desired.
SpaceX founder Elon Musk recently unveiled new development on his plans to launch a live stream feature on his platform X (formerly Twitter). Elon has also tested the service himself, however, he admitted of being a bit complicated to set up. Further, he mentioned that viewers who wished to comment on streams needed to have subscriptions, thus making it a bit more complicated than the other streaming platforms.
Ever since Elon Musk bought Twitter in October 2022, the social media platform has witnessed significant changes. Some of these include modifications to the account verification process, reinstating certain banned accounts, as well as rebranding strategies which led to the name and logo of the platform being changed to X.
Earlier, Elon Musk had actively tested the platform’s streaming capabilities by going live one random day in October 2023. He gave a glimpse of the live stream feature by streaming himself playing Diablo 4 from his personal alternative account.
Elon Musk reveals X’s livestream monetization strategy
A Fortune report suggests that during the Diablo 4 test live stream from his X account, Elon Musk highlighted his foresight for the social media platform as a challenging competitor to bigger streaming sites such as Twitch and Kick. The American business mogul emphasized the platform’s appeal to content creators, stressing the potential for significant monetary rewards through a unique revenue-sharing model.
Streaming Test https://t.co/iOZTWGTcKQ
— Gamer (@cyb3rgam3r420) January 4, 2024
He elaborated that all the advertising revenue earned from replies to a stream on X would exclusively belong to the content creator. Musk also revealed the upcoming features he plans on the X platform, such as tipping and paid subscriber plans, thus allowing streamers the freedom to choose whether to enable subscriptions.
He said, “Any advertising that’s in your replies, so if you were to post a stream, any advertising that’s in the replies, you get all the previous… all the advertising revenue. So sometimes that can be quite a lot.”
The Tesla CEO also gave an example of how the viewers potentially paying a monthly fee will allow streamers to customize the amount. “You can choose how much, but it’s like, I think one of the perks is like, you can even restrict the chat, or some of the chats, to be just subscribers. So then, you know, the advantage is that somebody subscribing then, they get to chat,” the said.
He further highlighted the flexibility that the platform would stating that streamers will able to also restrict chat access to subscribers and offer an additional incentive for viewer engagement.
Which platforms will X streaming compete with?
Elon’s recent efforts and developments in the direction of making X a streaming platform are greatly significant in a dynamic market like the streaming industry. The game streaming market is currently filled with intense competition, mainly between two of the industry giants including Amazon-owned Twitch and Kick.
Kick was launched in 2022 and has over the past year gained traction among top content creators thanks to its revenue-sharing model, which is considered as a more superior one. Besides, Kick is also believed to have more flexible policies as compared to Twitch. Kick has also signed some of the top streamers such as xQc, Adin Ross, and Amouranth, who have significantly helped boost the platform’s growing popularity.
Besides Twitch and Kick, Rumble is another notable streaming platform out there. Rumble caught attention last year after it secured a deal with one of Twitch’s leading streamers, Kai Cenat, as well as YouTuber sensation IShowSpeed.
While the outcome of the competition among the streaming platforms remains to be seen, Elon Musk‘s Twitter live streaming will surely add a new aspect to the evolving arena.