user growth reaches ‘all-time high’
The wave of user departures reported on Twitter will not be very significant, according to an FAQ conducted internally. According to this document, the company is actually recording a significant increase in the number of profitable daily users. On the other hand, advertisers are leaving the platform.
Increase in monetized users
Arriving at the head of Twitter on October 27, Elon Musk did not hesitate to make many changes within the social network, especially by separating from some of its leaders and almost half of the staff. For now, the billionaire’s decisions will not reduce the number of users of the platform, according to an internal document consulted by The Verge. This FAQ has been shared with the Twitter sales team to use in conversations with advertisers to provide reassurance.
In contrast, Twitter’s profitable daily user growth accelerated to more than 20%, the largest jump in its history, while “ the social network’s largest market, the United States, is growing faster “. Also according to the FAQ, Twitter has gained more than 15 million profitable daily users, “ crossing the quarter-billion mark since the end of the second quarter, when the company stopped disclosing its financial data as a public company.
There are many factors to consider
If this figure is encouraging for the company, which wants to double its revenues in the next two years, it should face a rapid departure from advertisers, even if Musk published a text with the intention of giving them reassurance as soon as he came to the head. of Twitter.
Advertisers leave for a number of reasons. In fact, reports have proven that hate speech and content exploded on the platform after Elon Musk took over. The latter also claimed that Twitter recorded “a massive drop in revenue” due to “ activist groups that lobby advertisers “. The platform explained that this phenomenon resulted from “ coordinated trolling campaign “.
Also, the resignation of advertising executive Sarah Personette made matters worse because she was the person advertisers talked to when they had questions or concerns.
Twitter’s rapid change is troubling
Elon Musk’s Twitter posts are not helping to improve the situation. The billionaire, for example, delivered very questionable information about the attack on the wife of the Speaker of the House of Representatives, Nancy Pelosi. While the tweet has since been deleted, it raises questions about the spread of questionable information on the social network.
However, Musk assures that Twitter should be “by far the most accurate source of information in the world”. He also stated that the moderation rules remained unchanged and that a Council of Moderation brought together people with ” very different views will be set up.
Advertisers are also concerned about changes made too quickly to the platform, such as the Twitter Blue subscription that will increase to 8 dollars per month. Initially, Musk wanted to impose it almost directly at a price of 16 dollars, but a lot of criticism, especially from the writer Stephen King, caused him to slow down the process. Finally, its deployment will take place after the mid-term elections, and it should not affect accounts that have already been verified, contrary to what was initially planned.
The many upheavals within Twitter’s hierarchy and its operations have created a significant climate of uncertainty for advertisers, but the company’s teams seem determined to reverse the trend, and the increase in users profitability can be a very good argument in their favor. To see if they can be convinced.