Musk says X hits a new user high, but Threads retention struggles

Musk says X hits a new user high, but Threads retention struggles

Web Desk
July 30, 2023

Musk says X hits a new user high, but Threads retention struggles

Elon Musk announced that social media platform X has reached a new high of over 540 million users.
Before Musk acquired the company in October, Twitter had 229 million monthly active users as of May 2022.
Under Musk’s guidance, X has experienced swift changes in both products and organization.

Elon Musk announces that the social media platform X, formerly known as Twitter, has reached a “new high” with over 540 million monthly users.

A day after Meta CEO Mark Zuckerberg’s statement about improving retention on their new rival platform, Threads, Elon Musk tweeted about X’s “new high” of over 540 million monthly users. Threads has suffered a significant loss of users, with over half leaving the app in the weeks following its highly anticipated launch.

Musk posted a graph showcasing the latest user statistics for X.

𝕏 monthly users reach new high in 2023 pic.twitter.com/trqLGBEvvA

— Elon Musk (@elonmusk) July 28, 2023

Musk‘s update on the platform’s user base comes amidst organizational changes and efforts to boost advertising revenue, which has seen a decline in the past month.

This is the most recent statement among a series made by X’s executives, highlighting significant momentum in user engagement.

The comments were made in response to the launch of Threads, a direct competitor platform introduced by Meta Platforms on July 5.

Prior to Musk’s acquisition of the company in October, Twitter had 229 million monthly active users in May 2022. After Musk took ownership, he revealed in November that X now has 259.4 million daily active users.

Twitter added 1.6M daily active users this past week, another all-time high pic.twitter.com/Si3cRYnvyD

— Elon Musk (@elonmusk) November 22, 2022

Under Musk’s guidance, X has experienced swift changes in both products and organization.

A significant move was the introduction of a paid service for the verified blue tick, and the company also began revenue sharing with certain content creators on the platform.

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In May, Musk appointed Linda Yaccarino, a former NBCUniversal advertising executive, as CEO of X, indicating a focus on ad sales and subscription revenue growth.

In a recent statement, Musk disclosed that X’s cash flow encountered difficulties, primarily due to a substantial 50% drop in advertising revenue and a significant debt burden. However, specific details were not disclosed.

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