Elon Musk, CEO of social media platform X (formerly known as Twitter), announced on Friday that the platform will soon introduce two new tiers of premium subscriptions. Musk revealed that one tier would offer all features at a lower cost but without a reduction in ads, while the other would be more expensive but ad-free. However, he did not provide further details on the subscription plans.

Earlier this week, X began charging new users $1 in New Zealand and the Philippines as a test case for accessing the platform. Users who opted out of subscribing will have limited access, only able to engage in “read only” actions such as reading posts, watching videos, and following accounts, according to the company’s website. This new subscription method, called “Not A Bot,” aims to reduce spam, platform manipulation, and bot activity.

Since Musk took over the platform in October 2022, his rapid changes, including mass layoffs and disbanding content moderation teams, have resulted in advertisers pulling their ads from the service. Musk has acknowledged that these changes have impacted revenue and has blamed activists for pressuring advertisers. In an attempt to generate revenue, Musk introduced a $8 per month blue check subscription service and offered discounts to attract advertisers back to X.

In other news, Musk’s financial goal for X just got even more ambitious. He wants the platform to effectively rival other social media giants like Facebook and Instagram. With his innovative approach and drive for success, Musk aims to dominate the social media landscape. Stay tuned for more updates on X’s latest developments.