X, previously Twitter, sees an 11.6% drop in daily users under Elon Musk. The platform also disburses $20 million to support content creators.
Linda Yaccarino
Linda Yaccarino, the CEO of X, formerly known as Twitter, has revealed that the platform experienced a decline in daily active users since Elon Musk’s takeover. During her recent address at Vox Media’s Code 2023 tech conference, Yaccarino disclosed that X now boasts 225 million daily active users, marking a notable drop of 11.6 percent since Musk acquired the company.
Yaccarino, who has been in her role at X for just 12 weeks, acknowledged the decrease in daily active users following Musk’s takeover. Interestingly, following the conference, X revised its daily active user count to 245 million, according to information from The Information. Prior to this, Yaccarino had mentioned a range of “200 to 250 million” daily active users in an earlier part of the interview.
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Despite the revision, X still experiences a decline in daily active users, losing around 3.7 percent since Musk’s acquisition. This reduction is even more pronounced when compared to figures shared by Musk himself last year. In a tweet, Musk stated that Twitter had 259.4 million daily active users in mid-November 2022. Therefore, under Musk’s leadership, X has seen a significant decrease, shedding nearly 15 million users, or roughly 5.6 percent.
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In addition to these statistics, X, now under the ownership of Elon Musk, has been actively supporting content creators on its platform. Yaccarino shared that the company has distributed nearly $20 million to content creators, emphasizing their commitment to enabling the economic success of creators within their community. This initiative highlights X’s dedication to fostering a vibrant ecosystem for content creators as they navigate the evolving landscape of social media.
Long before Elon Musk’s interest in acquiring Twitter, the platform had been disclosing a metric called “monetizable daily active users”. The rationale behind this practice was that these figures consistently presented a more favorable picture of the company’s performance compared to other metrics in its quarterly reports for investors and shareholders.
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