Twitter has announced it will no longer offer developers free access to public data starting on February 9.
Twitter’s Development Team announced the move at 1.05am EST on Thursday, stating: ‘We will no longer support free access to the Twitter API, both v2 and v1.1. A paid basic tier will be available instead.’
Application Programming Interfaces (API) ‘provide companies, developers, and users with programmatic access to Twitter data,’ according to Twitter’s website. APIs allow developers to view public information stored in Twitter’s data, which users can control how much is available.
Starting next Thursday, developers and companies seeking this information will no longer be able to just submit a free application, but will have to pay an undisclosed amount.
The Development Team said more information regarding the change will be available before the change takes place.
Twitter has announced it will no longer offer developers free access to public data starting on February 9. Twitter’s Development Team announced the move at 1.05am EST on Thursday, stating: ‘We will no longer support free access to the Twitter API, both v2 and v1.1. A paid basic tier will be available instead’
‘Over the years, hundreds of millions of people have sent over a trillion Tweets, with billions more every week,’ the team wrote in the late-night tweet. ‘Twitter data are among the world’s most powerful data sets. We’re committed to enabling fast & comprehensive access so you can continue to build with us.’
The move comes after it was revealed the social media company’s revenue was down 40 percent compared to last year and many advertisers have paused spending since Tesla CEO Elon Musk took over as Chief Twit.
Musk’s $44billion takeover of Twitter last October has been mired in controversy after the entrepreneur sacked thousands of staff without notice.
Now, insiders have told technology newsletter Platformer that the site’s daily revenue on Tuesday January 17 was 40 percent lower than the same day a year ago.
In the first quarter of 2022, Twitter generated $1.2billion in revenue – or the equivalent of $13.3million a day. If its revenue is now running 40 percent below that, it would currently be making $8million a day.
Meanwhile, more than 500 advertisers have paused spending with the site since Musk’s takeover, reports The Information.
The move comes after it was revealed the social media company’s revenue was down 40 percent compared to last year and many advertisers have paused spending since Tesla CEO Elon Musk took over as Chief Twit
Engineering manager Siddharth Rao is said to have informed employees of the drop in a presentation to staff last month.
Advertisers have been spooked by the company’s mass lay-offs and Musk’s rush to implement a paid verification feature that resulted in scammers impersonating companies on Twitter.
The social media platform also recently reversed its 2019 ban on political ads and said that it would relax advertising policy for ’cause-based ads’ in the United States and align its ad policy with TV and other media outlets.
In November, Musk admitted there had been issues with advertising revenue, telling his followers: ‘Twitter has had a massive drop in revenue, due to activist groups pressuring advertisers, even though nothing has changed with content moderation, and we did everything we could to appease the activists.’
He added: ‘Extremely messed up! They’re trying to destroy free speech in America.’
The company has yet to publish its fourth quarter earnings, which are set to be released February.
More than 500 advertisers have paused spending with the site since Musk’s takeover
Musk had planned to diversify Twitter’s revenue away from ads in the long run. However, the sudden drop in spending will likely hamper the company in the medium term.
Musk has already axed 75 percent of its 7,500-strong workforce, resulting in dozens of laid-off workers now trying to sue the company for firing them without warning.
And the firm is also facing a lawsuit from the landlord of one of its San Francisco offices for failing to pay rent.
Court records show the social media giant missed a rent payment of $136,260 for its 650 California Street office.
The building is not Twitter’s official HQ, which is located nearby on Market Street.
Twitter revenue has dropped 40 percent, insiders claim, meaning daily revenue is estimated to be around $8million, based on figures from the first quarter of 2022
Similar problems have emerged at its other offices, including one in Seattle where it is facing eviction for failing to pay rent.
Staff in the Seattle location have been told they must now work from home.
The report of losses comes as supplies from Twitter’s HQ are now being listed on auction website Heritage Global Partners.
Chairs from the company’s offices were being sold for more than $1,000.
Musk first announced in December that he was putting items from the company up for sale, claiming he wanted to clear out its HQ of its ‘woke’ supplies.
This included a massive Twitter bird statue and valuable luxury items, such as a $20,000 espresso machine, a $10,000 vegetable dryer and a $17,000 braising pan.