Elon Musk's Next Lifeline For X Could Be Premium Referral Commissions To Counter Revenue Hits
Portfolio Pulse from Rounak Jain
Elon Musk is considering launching a referral program for X (formerly Twitter), allowing users to earn commissions for referring users to the platform's subscription service. This comes as the platform struggles with a 60% drop in revenue due to allegations of antisemitism, which has led to advertisers shunning the platform. The referral program could incentivize users to subscribe and refer others to the X Premium service, potentially boosting the platform's revenue.
September 06, 2023 | 10:38 am
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NEUTRAL IMPACT
Elon Musk's consideration of a referral program for X could indirectly impact Tesla Inc., as Musk's actions and reputation can influence investor sentiment towards companies he is associated with.
While the news is primarily about X (formerly Twitter), Elon Musk's association with Tesla Inc. means that his actions and the performance of his other ventures can influence investor sentiment towards Tesla. However, the direct impact on Tesla's stock is uncertain.
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