In a new controversial move, Elon Musk, owner of Twitter, announced on Thursday that users of the social media platform will be able to offer their followers content that includes long texts and videos lasting for hours in exchange for financial subscriptions.

Users with this feature, which they can activate through settings, will receive all the money paid by subscribers except for the fees deducted by the Android and iOS systems. Twitter will not take a percentage of the revenues in the first 12 months.

Musk also said in a tweet: "This represents 70 percent for subscriptions on iOS and Android operating systems (they take 30 percent) and 92 percent through web browsing (the percentage may be better, depending on the payment intermediary)."

He also added that Twitter will also help promote creators' work and boost earnings.

Meanwhile, Google denied Musk’s claim in an email to Reuters, saying it has reduced service fees for all subscriptions on Google Play to 15 percent, down from 30 percent in 2022.

Musk has made changes to the company to increase revenues after the social media platform witnessed a decline in advertising income last year during the period prior to the acquisition process completed in October.

Since Musk took over the company, he quickly made several changes in the organization and products. The company launched the blue verification badge as a paid service and cut staff by about 80 percent.