- The subscription price for the Premium+ plan on Elon Musk’s X has been increased globally
- With the increment, Nigerian users will pay N34,000 monthly, a 51 per cent increase from the previous price of N22,550
- The platform said the price increment reflects changes that include a complete ads-free experience among others
The microblogging platform owned by Elon Musk, X, has increased the subscription price for its Premium+ plan globally.
The increment means that the price for users in Nigeria was jerked up by 51 per cent, one of the highest increments.
Nigerian users will now pay N34,000 monthly on the Premium+ subscription plan instead of the previous N22,550, representing a 51 per cent increase.
The platform noted that the increment of the Premium+ subscription plan, which completely removes ads for users, among other features, varies by country and took effect from December 21, 2024, for new subscribers.
Users in the United States will pay $22 for the Premium+ subscription, a 37.5 per cent increase from the previous price of $16. Annual subscriptions have also increased to $229 from $168 previously.
The Premium+ price for the European Union increased to €21 from €16 monthly, while that of Canada increased by 45 per cent from $20 to $29.
It said, “If you’re an existing subscriber and your next billing cycle starts before January 20, 2025, you’ll be charged at your current rate; otherwise, the new rate will begin with your first billing cycle after that date. See pricing information in the table below.
“Prices may vary by location, applicable taxes, and your payment method’s fees. For any questions, please message X Premium.”
Price increment reflects changes on X platform
In a statement, the company noted that the price increment reflects the increasing changes in the platform and the benefits that X Premium+ users stand to get.
These changes include the complete removal of ads, which allows an uninterrupted browsing experience for users
It added that Premium+ subscribers will enjoy higher priority support from @Premium, access to new features such as Radar, which offers real-time analytics on emerging trends through keyword tracking, and higher limits on the platform’s cutting-edge Grok AI models, ensuring subscribers are always ahead of the curve.
“Increased pricing allows us to invest more into making Premium+ better and better over time,” the company noted.
Also, it stated that users’ subscription now more directly fuels the platform’s evolving creator programme, saying it has shifted its revenue share model to reward content quality and engagement rather than ad views alone.
Recall that the platform, in March 2024, said it shared over $45 million to 150,000 content creators on the platform over seven months.
“Your Premium+ subscription fee contributes to this new, more equitable system where creator earnings are tied to the overall value they bring to X, not impressions of ads,” it added.
The price increment did not affect the lower Premium subscription plan which still costs N3,650 monthly in Nigeria and N38,500 annually.
Elon Musk's X loses nearly 80% of its value since acquisition, report unveils
Meanwhile, TheRadar reported that an assessment of Elon Musk’s social media platform, X, formerly known as Twitter, by investment firm, Fidelity, estimates the company’s worth plummeted by nearly 80 per cent since Musk acquired it for $44 billion in October 2022. Current evaluations place the platform’s value at approximately $9.4 billion.
Fidelity disclosed that, as of the end of August, its stake in X was valued at just $4.2 million, reflecting a significant 24 per cent decline from the previous month. This figure marks a staggering 79 per cent drop from the $19.66 million valuation Fidelity assigned to its shares at the time of Musk’s acquisition.
