X CEO Linda Yaccarino told the company’s investors Thursday that the social media site will soon introduce a three-tiered subscription model to get the company out of the red.
According to reports, Ms. Yaccarino told bankers that the site will transition to a plan that enforces basic, standard and plus subscriptions at various price levels.
It remains unclear when such a plan would roll out and how profitable it would be. But Ms. Yaccarino told the investors that the model would help claw back some of the revenue lost as advertisers left the site after Elon Musk bought the social media firm last year.
According to some reports, advertising revenue is returning to X.
Ms. Yaccarino’s announcement of an upcoming three-tiered subscription model comes after Mr. Musk announced he wants every user to pay at least something to access X.