“Ads are too frequent on Twitter and too big. Taking steps to address both in coming weeks,” Mr Musk tweeted on Sunday, adding that there would be a “higher priced subscription that allows zero ads”.
The new option is expected to be an addition to the already existing paid-subscription feature that provides users with a better experience than the free version, including an edit button and a verification check mark.
Mr Musk’s announcement echoes his earlier tweet in December last year in which he hinted that an ad-free version of the platform was underway.
“Basic Blue will have half the number of ads. We will offer a higher tier with no ads next year,” the Tesla titan had tweeted.
The new move would also be a radical shift from being heavily reliant on advertisements as its major source of revenue.
Reports suggest Twitter earns nearly 90 per cent of its revenue from digital advertisements posted on the platform.
But the Tesla chief recently alleged there to be a “massive drop” in the company’s revenue due to several organisations and activist groups pressuring brands to stop advertising on Twitter.
Several companies noted that they refrained from advertising on Twitter due to concerns about “brand safety” after Mr Musk took over.
This was likely due to weakened content moderation on the platform following mass layoffs that slashed the company’s workforce in half.
In a Twitter Spaces discussion, Mr Musk compared Twitter to a “plane that is headed towards the ground at high speed with the engines on fire and the controls don’t work”.
Earlier this month, the company also relaxed some of its long-standing policies banning political advertisements on the platform as it attempted to boost revenue and cut costs.
“Moving forward, we will align our advertising policy with that of TV and other media outlets,” Twitter Safety announced on its official account.
However, it remains unclear what exactly could change with respect to content on the platform, and when the new subscription is expected to be rolled out.
Twitter did not immediately respond to The Independent’s request for comment.