Musk says X monthly users reach ‘new high’

This is the latest in a series of comments from X’s executives claiming strong traction in usage after the launch of rival Threads.

In this photo illustration a X logo is displayed on a smartphone screen and a Twitter logo on a MacBook screen in Athens, Greece on July 24, 2023. Twitter unveils X logo to replace Larry the bird. (Photo Illustration by Nikolas Kokovlis/NurPhoto via Getty Images)
Elon Musk's comments on the number of users come as X aims to boost advertisement revenue [File: Illustration by Nikolas Kokovlis/NurPhoto via Getty Images]

Elon Musk has said that monthly users of social media platform X, formerly known as Twitter, reached a “new high” and shared a graph that showed the latest count as over 540 million.

Musk’s post on X on Friday about the user figures comes as the company goes through organisational changes and looks to boost advertising revenue which has dropped in the recent month.

It is also the latest in a series of comments from X’s executives claiming strong traction in usage, after Meta Platforms launched a direct competing platform called Threads on July 5.

Twitter had 229 million monthly active users in May 2022, according to a statement made before Musk’s purchase of the firm in October. Musk posted in November that X had 259.4 million daily active users.

Since taking over, Musk has swiftly moved through a number of product and organisational changes. The company rolled out the verified blue tick as a paid service and has started sharing a cut of the advertisement sales with select content creators on the platform.

In May, Musk named former NBCUniversal advertising chief Linda Yaccarino as CEO of X, signalling that advertisement sales were a priority even as the platform worked to increase the subscription revenue.

Musk said earlier this month that X’s cash flow was negative because of a nearly 50 percent drop in advertising revenue and a heavy debt load, without offering details.

Source: Reuters