The acquisition of Twitter by billionaire Elon Musk has caused some to question the future of the social media platform. Musk’s prime concern was to generate revenue, and he attempted to do so with an $8 per month charge for a verified blue tick. In spite of the fact that this is the case, many are ridiculing this notion due to the relatively small amount of revenue it would bring in. Some are hoping that Musk can turn the ship around, but the predictions seem rather dire right now.
Insider Intelligence recently put out a report that revealed a potential drop in Twitter’s number of users for the very first time. Twitter’s growth rate in terms of user base was slow prior to Musk’s acquisition, but with all of that having been said and now out of the way this report suggests that it may go into the negatives despite never having done so since the platform was first released for general consumers.
The social network managed to crawl its way to 368 million users in 2022. The research indicates that this will decrease by 3.9% to 353 million by the end of 2023, followed by another decline of 5.1% to reach 335 million by the time 2024 draws to a close. This will set Twitter back several years, since the platform had more users than this as far back as 2020 when the pandemic surge resulted in an 11.1% growth rate that brought the total count to over 347 million with all things having been considered and taken into account.
All of this seems to suggest that Musk’s acquisition is putting Twitter’s future in jeopardy. If current trends continue, it will become harder for Twitter to continue operating than might have been the case otherwise. Musk has alienated a lot of advertisers due to his free speech absolutism, and that is having a detrimental impact on what he refers to as the internet’s Town Square. Much of this decline can be attributed to US based users who are migrating to other platforms such as Mastodon en masse.
Read next: The news comes forward to us by Insider Intelligence who says they’ve really done extensive market research to come to this conclusion, ever since they began to track it down in 2008.
Insider Intelligence recently put out a report that revealed a potential drop in Twitter’s number of users for the very first time. Twitter’s growth rate in terms of user base was slow prior to Musk’s acquisition, but with all of that having been said and now out of the way this report suggests that it may go into the negatives despite never having done so since the platform was first released for general consumers.
The social network managed to crawl its way to 368 million users in 2022. The research indicates that this will decrease by 3.9% to 353 million by the end of 2023, followed by another decline of 5.1% to reach 335 million by the time 2024 draws to a close. This will set Twitter back several years, since the platform had more users than this as far back as 2020 when the pandemic surge resulted in an 11.1% growth rate that brought the total count to over 347 million with all things having been considered and taken into account.
All of this seems to suggest that Musk’s acquisition is putting Twitter’s future in jeopardy. If current trends continue, it will become harder for Twitter to continue operating than might have been the case otherwise. Musk has alienated a lot of advertisers due to his free speech absolutism, and that is having a detrimental impact on what he refers to as the internet’s Town Square. Much of this decline can be attributed to US based users who are migrating to other platforms such as Mastodon en masse.
Read next: The news comes forward to us by Insider Intelligence who says they’ve really done extensive market research to come to this conclusion, ever since they began to track it down in 2008.
