Social media platform X has been facing difficulties since it was bought by Elon Musk.
In October 2022, Elon Musk bought X, formerly known as Twitter, for $44 billion.
Now a new report has revealed that X’s user growth has slowed since Elon Musk took ownership.
According to a Financial Times report, the number of daily users of X during the second quarter of 2024 was 251 million. The number of people using X daily increased by just 1.6 per cent during the second quarter of 2024 compared to April to June 2023. X’s user base was growing at least 10 per cent every year before Elon Musk took over.
But from the second quarter of 2023 to the second quarter of 2024, the number of new users using X increased by only 4 million.
X has not officially released daily user figures for the social media platform since Elon Musk’s ownership.
However, in November 2022, Elon Musk shared a graph according to which the number of new users using the platform increased by 5 million daily from October to November 2022 and reached 259.4 million.
Similarly, in September 2023, Landa Yacarino, after becoming the chief executive of X, said at a conference that the number of daily users of X is 245 million. After that, X did not release the data in this regard.
But a Financial Times report shows that 251 million people were using X daily during the second quarter of this year, and that the number of users of the platform has decreased compared to 2022.
On the other hand, X rejected the new report, claiming that the number of new users in the US and the UK increased between August 2023 and June 2024, but did not disclose the figures.
