2023-07-29 01:05:40
© Reuters. X logo, formerly known as Twitter 7/23/2023 Website screenshot via REUTERS/Archive
Por Yuvraj Malik
(Reuters) – Elon Musk said on Friday that the number of monthly users of social media platform X, formerly known as Twitter, had reached a “new high” and shared a graph showing the latest count of more than 540. millions.
Musk’s X post on user numbers comes as the company undergoes organizational changes and looks to boost its advertising revenue, which has declined in the recent month.
It’s also the latest in a series of comments from X executives who claim strong traction in using the platform, after Meta launched a direct competitor network called Threads on July 5th.
Twitter had 229 million monthly active users as of May 2022, according to a statement made prior to Musk’s purchase of the company in October last year. Musk posted in November that X had 259.4 million daily active users.
Since taking the helm of the company, Musk has moved quickly through a series of organizational and product changes. The company launched verified blue tick as a paid service and began sharing a portion of ad sales with select content creators on the platform.
In May, Musk named former NBCUniversal head of publicity Linda Yaccarino as chief executive of X, signaling that ad sales were a priority even as the platform worked to increase subscription revenue.
Musk said earlier this month that the X’s cash flow was negative because of a nearly 50% drop in advertising revenue and a heavy debt load, without offering details.
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