jordan pulse -

The new CEO of Twitter, American billionaire Elon Musk, revealed that the company is losing 4 million dollars a day, and that he is ready to try anything that might help the platform turn profitable.

The first change that the American billionaire made was the adoption of the blue tick service system for a monthly subscription of $ 7.99, a service that gives users the verified blue tick for their accounts.

Less than a week after the service was launched, Twitter decided to suspend it temporarily after it was exploited by scammers on the platform.

Twitter needs 15 million Twitter Blue subscribers to achieve monthly revenues of $120 million, in order to cover its operating losses of $344 million over the second quarter (the company’s latest disclosure).

Musk told the company's employees in their first email that half of Twitter's revenue must come from subscriptions in order to survive the next economic downturn.

Ads will be relied on in the other half, which is difficult to predict amid a campaign to stop ads on the platform.

And Daniel Ives, chief equity analyst at Woodbush Securities, expects the best-case scenario for a subscription service issue with 10 percent of platform users signing up.

This ratio is equivalent to 23.78 million accounts on the platform, as according to the latest quarterly disclosure, the total number of daily active users on the platform reached 237.8 million.