Elon Musk will force companies on X to pay at least $1,000 (£770) per month in order to keep their verified status on the platform. From 7 August, any brand that does not pay the fee to the company formerly known as Twitter will lose the gold check mark that appears next to the account name. The latest strategy, which was first reported by The Wall Street Journal, comes amid declining ad revenues and fresh competition from text-based platforms launched by Meta and TikTok. Mr Musk responded to the report by stating that brands could also pay $1,000 per month for a verified organisation subscription. “This more than pays for itself in organic reach,” he posted on X. “The reason for the $1,000/ month is to set a moderately high bar to be a verified org, so that an org must be of non-trivial size to qualify and to make it expensive for scammers to create millions of accounts.” Earlier this month, the tech billionaire revealed that the company was suffering from negative cash flow issues after advertising revenue dropped by 50 per cent following his $44 billion takeover of the platform. Mr Musk has undertaken aggressive cost-cutting measures, which included firing more than 6,000 employees. He has also appointed former advertising executive Linda Yaccarino as the firm’s CEO in an effort to woo advertisers. The rebranding from Twitter to X could also open up new revenue streams, with Mr Musk planning to transform the social network into an “everything app” similar to China’s WeChat. X has already secured money-transmitting licences in three US states, which will allow payments to be integrated into the platform. Ms Yaccarino said on Monday that she believed X represented “the future state of unlimited interactivity”, integrating audio, video, messaging, and the ability to book and pay for goods and services. Powered by AI, X will connect us all in ways we’re just beginning to imagine,” she posted on X. “For years, fans and critics alike have pushed Twitter to dream bigger, to innovate faster, and to fulfil our great potential. X will do that and more.” Read More What is Elon Musk’s ‘everything app’ X? Elon Musk takes control of @X account from user who had held it for 16 years Elon Musk’s ‘X’ is already trademarked by Mark Zuckerberg What is Elon Musk’s ‘everything app’ X?

A tweet by Ozzy Osbourne showing him gaming on a Sony PlayStation VR2 has been banned for failing to mention that it was an ad. The tweet from Osbourne’s account in February read: “Did this spot with @PlayStation team. We had a lot of fun. Their new VR2 is really amazing.” The tweet included a video which began with a blue screen displaying the PlayStation logo before cutting to Osbourne in a living room taking a virtual reality headset and controllers out of a blue PlayStation box as his wife Sharon Osbourne told him that they needed to pack boxes and catch a flight to England. Osbourne replied that he wanted to play on his PlayStation and was shown swearing at dinosaurs via a VR headset and controllers before the video ended with the text: “Play has no limits,” followed by the PlayStation logo. We considered the wording, including the use of the word spot to refer to the video, was not sufficient to clearly indicate to consumers that the tweet was part of a commercial relationship between Sony and Ozzy Osbourne Advertising Standards Authority Sony, which responded to the Advertising Standards Authority (ASA) on both their and Osbourne’s behalf, said their agreement gave Osbourne’s management company final approval over the video’s script. The tech giant confirmed that Osbourne was contracted to post a tweet sharing the video as part of the agreement, with Sony specifying only that Osbourne must share the video in a way which clearly disclosed that he had worked with Sony. Addressing the tweet itself, Sony believed that the word “spot” in the text “Did this spot with the @PlayStation team” would be clearly understood by Twitter users to refer to an ad. They also believed that the placement of the wording at the beginning of the tweet meant it was sufficiently prominent for consumers to understand the commercial nature of the video before they watched it. The ASA said consumers should be made aware that a post was an ad before they engaged with it. The watchdog said: “We acknowledged the positioning of that wording in the tweet was both prominent and visible before the video started playing. “However, we considered the wording, including the use of the word spot to refer to the video, was not sufficient to clearly indicate to consumers that the tweet was part of a commercial relationship between Sony and Ozzy Osbourne and that the tweet was therefore an ad.” It added: “Because the ad did not make clear its commercial intent upfront, we considered it was not obviously identifiable as a marketing communication and concluded that it breached the Code.” It ruled that the ad must not appear again in the form complained about. Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live No evidence to suggest Facebook not good for wellbeing, Oxford scientists say Harry and Meghan ring young online innovators after funding awards James Bulger’s mother condemns ‘disgusting’ AI clips on TikTok of murdered son

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