Midterm Draft

Ivy Ren Section B February 29, 2024 Twitter Critical Analysis Digital media has revolutionized how people generate, access, and consume content. Social media are shaping the world order by allowing global users to access similar information. The proliferation of social media is due to the high demand for content and advancement in information technology. Access to digital devices, such as computers and smartphones, and the internet have contributed to the increased usage of social media and streaming sites globally. Social media companies and applications have unique content generation and delivery strategies depending on target users. Twitter, also known as X, is a unique social media company whose entry into the market created disruption in online communication and mainstream media houses. Created in 2006 by Jack Dorsey, Evan Williams, and Noah Glass, the application has approximately 500 million users globally, with the majority having been active since 2010 (Duffy, 2022). The uniqueness of this social media is that it promotes communication about trending topics, with users having limited words for every post. The brief posts of 140 characters were not favorable for users who post many words, but the limit was due to the technical limit of characters allowed for text messages. Although the company increased the number of characters to 280, it restricted users from creating long posts (Kidwai & Caroll, 2023). This restriction of words influenced it to have a professional approach, with most users using formal communication. This platform made a shift in social media communication because most users emphasize informal communication and posting videos and photos. Twitter’s main revolution came after the transfer of ownership to Elon Musk. The globally discussed acquisition of this platform for US$44 billion because of the much-anticipated changes to revolutionize the platform (Kidwai & Caroll, 2023). The platform received criticism globally due to anticipated changes proposed by Musk. First, monetization of content received support globally because many users had great content and received many engagements but no financial benefit (Napoli, 2019). The popularity of social media platforms is because they enable content creator to monetize their content (Napoli, 2019). This move toward monetizing content has led to increased usage of the platform because monetization depends on the number of engagements and impressions. Monetization of content has also increased Twitter’s revenues because of the increased number of organizations marketing products through the medium. Twitter has enhanced its competitive advantage through content monetization because other competing social media platforms offer a similar benefit to content creators. Monetization of content was a transformational strategy because it contributes to social media’s goal of spreading information and generating income for users. Twitter’s rebranding since 2022 has given it a sustainable business model due to increased revenues. A major contributor to its revenue streams will be subscriptions for verified badges by individuals and companies (Kidwai & Caroll, 2023). Subscriptions are mandatory for users seeking to monetize content, making it a guaranteed source of income for Twitter. Twitter’s introduction of verification subscriptions has set a precedent for other social media platforms to address the decline in revenues for these companies. Twitter’s owner, Musk, has expressed satisfaction with the growth in revenues to enable it to finance its operational expenditure and sustain its business strategy. In addition, Twitter’s marketing department is targeting the recruitment of more brands to increase its marketing revenues. This business model enables Twitter to grow with other businesses due to cooperation in expanding markets (Kidwai & Caroll, 2023). Twitter’s new business model guarantees it long-term revenue streams due to partnerships with income-generating...