Twitter to charge businesses $1,000 per month for verification check

According to The Information, a social media consultant who obtained internal documents from Twitter revealed that the proposal to start charging businesses for their newly-gold verification checks will also affect the business' affiliated accounts, which would be charged an additional $50 per month. However, it was reported that the pricing model has yet to be finalized.

As consultant Matt Navarra reported, businesses who opt to not spend four figures on a verification check would lose their badges.

When Musk acquired Twitter last October, he began exploring different routes to bring in profit, including an $8-a-month blue check for any user willing to pay for Twitter Blue, which also comes with other perks like the ability to edit or "undo" tweets. Previously, the blue checkmark badges were reserved to only "notable" people like celebrities, politicians, and journalists.

In the new system, government officials who would've had blue checks in the past now get gray ones, free of cost.

In January, Musk also announced the option to pay for an ad-free experience.

All of these new strategies come as the company fights it's loss in ad revenue since Musk's acquisition. According to The Guardian, Twitter was hit by 40 percent drop in ad revenue after more than 500 advertising clients reportedly paused their spending since the Tesla founder took over.

In early November, the company slashed nearly half its workforce, according to the outlet.