Twitter to introduce higher priced subscription with no ads
Elon Musk has tweeted that Twitter will be introducing a “higher priced” subscription that will have “zero ads”.
“Ads are too frequent on Twitter and too big. Taking steps to address both in coming weeks,” he tweeted on Saturday.
It comes after the company was reportedly hit by a 35% revenue drop in Q4 2022, amid a cutback in spending from advertisers, according to the Information.
Meanwhile reports suggest a 40% drop in revenue year over year, after a Twitter manager told staff revenue was 40% down on Tuesday (17 Jan) compared with a year ago.
Advertising is Twitter’s main source of income, accounting for 90% of 2021’s $5.1bn (£4.1bn) revenue.
Morrisons introduces fresh price cuts
Following news in early January that Morrisons was investing £16m to cut prices across a range of products, the supermarket has confirmed a second wave of price cuts.
Fresh price cuts will impact 820 products across a range of categories, such as meat, fruits and vegetables and confectionary, alongside household items, as rising costs and food inflation continue to have an impact on consumers.
The cuts in total average around 20%, and Morrisons says the reductions will be locked in for at least two months, according to the Grocer.
Morrisons CEO David Potts says the cuts demonstrate the supermarket chain’s “continued commitment” to doing all it can to help consumers with their grocery shopping costs.
“In addition to the cuts we made to the Savers range at the start of the month and then our fuel promotion, we’re now cutting the price on even more popular products to help make a positive difference to the pockets of our customers,” he