Elon Musk announced a significant milestone on social media platform X, previously known as Twitter, stating that monthly users have surged to over 540 million, marking a “new high.” The announcement comes amidst a period of organizational adjustments as the company seeks to bolster advertising revenue, which experienced a decline in recent months.
X’s executives have been vocal about the platform’s growing popularity, especially after Meta Platforms launched Threads, a direct competitor, on July 5. Twitter had 229 million monthly active users in May 2022, as per reports prior to Musk’s acquisition of the firm in October. Following his takeover, Musk revealed that X had 259.4 million daily active users in November.
Since assuming control, Musk has implemented various product and organizational changes. Notably, X introduced the verified blue tick as a paid service and initiated revenue-sharing arrangements with select content creators for advertising sales.
To strengthen advertising efforts, Musk appointed former NBCUniversal advertising chief, Linda Yaccarino, as X’s CEO in May, signaling the company’s commitment to enhancing ad sales alongside increasing subscription revenue.
However, challenges persist for X, with Musk recently disclosing that the platform’s cash flow remains negative due to a nearly 50% decline in advertising revenue and substantial debt obligations, though specifics were not provided.
