‘Articles’ enables users to draft, format, and publish extended pieces of writing directly on X. This includes various formatting options and the ability to embed multimedia elements, aiming to provide a richer, more detailed storytelling experience. Once published, these articles are accessible on the user’s profile and appear in followers’ timelines, marked with a unique icon to differentiate them from standard posts.
Access to this feature comes with the platform’s Premium+ subscription, priced at $168 annually or $16 monthly, while Basic and Premium subscriptions do not include this new feature. Verified Organizations will also have access to ‘Articles’ and are subject to different pricing tiers, starting from $1,000 per month.
The launch of ‘Articles’ comes at a time when X is actively seeking new revenue streams to offset declining advertising income and overall financial losses. While 950,000 to 1.2 million people pay for X’s various subscription offerings, X’s advertising revenues have plummeted 50%. Even so, X CEO Linda Yaccarino claims the company will be profitable in early 2024. By offering long-form content capabilities, X aims to make its Premium+ subscription package more appealing, potentially attracting a new user base or upgraded Basic and Premium subscribers interested in publishing and consuming more substantial content.
However, it remains uncertain whether this new feature will significantly impact subscription numbers or if it will appeal broadly to X’s current user base. The success of ‘Articles’ as a revenue-generating tool will largely depend on the quality of content produced and whether it can attract and retain a dedicated readership.
INSIDER TAKE
Introducing ‘Articles’ represents X’s attempt to diversify its offerings and enhance the value of its subscription model to support its 2024 profitability goal. While this could address the demand for more in-depth content on the platform, it’s an open question whether this will translate into increased subscription sales.
The effectiveness of this strategy will be tested by user engagement with ‘Articles’ and its ability to draw both creators and readers willing to pay for premium features. As X navigates through its financial challenges, the adoption and utilization of ‘Articles’ could provide insights into the platform’s ability to innovate and adapt to changing market demands and user preferences.
