Pages

Twitter Adds 9 Million New Users Despite YoY Revenue Decrease In Q2 Amid Elon Musk Drama

The new performance update of Twitter is out and according to the report, the company has managed to include 9 million new users to the platform. But with the good news does come the ugly amid the high-profile acquisition drama with billionaire Elon Musk.

The social networking site reported a massive year-on-year decrease in revenue for Q2, which obviously are related to difficult conditions in the market but also has to do with the troubled ordeal with its acquisition.

Twitter has repeatedly made it extremely clear that Elon Musk is the one to blame when it comes down to plenty of its poor performances and a great many obstacles that made their way during this time.

But the addition of new user growth has taken the company’s total to a staggering figure of 238 million users.

Interestingly, the performance report revealed how so much growth arrived from foreign markets while those in the US only comprising of 2 million new users. But let’s not forget how America has helped the app grow so much in the past.

For the last three quarters, we’ve witnessed a sharp addition in users hailing from America. There was also one point in time where we saw the growth in users drop to a new low and that period of stagnation lasted nearly 2 years.

When Donald Trump was the country’s leading commander in chief, the app saw zero growth in terms of users in the US and we find that a little surprising. After all, that president was well known for using the app to make his main announcements. And in the end, he used it a tad bit too much and got blocked from it, after the January 6 Capitol riots that shook the nation.

Instead, the opposite took place. Trump being banned from the platform has resulted in a huge increase in users of the app.

Twitter is yet to publicly share where it has received its other 7 billion users. However, we do feel it has to do with locations like India and even Japan who have previously contributed so much to the platform’s growth in the past.

But there is also another concern that needs to be evaluated in this respect. India and Twitter are not exactly a match made in heaven. The duo is strongly butting heads recently after a recent report spoke about how government officials want the app banned because they feel it’s spreading misinformation and could incite violence in the country.

But Twitter refuses to back down and has instead chosen to take legal proceedings in regards to the particular form of censoring that it’s being forced to attain during this time.

While they do continue to block matters that many might consider sensitive and controversial like politics, they vow to display nothing but the truth and want government officials to understand that.

But let’s not rule out the fact that if the drama continues, we could see the app making its exit from the country, just like TikTok did, thanks to a new ban imposed by the current government.

In case that does plan on taking place, we could well see a huge blow to the platform’s expansion as the largest number of users do hail from this part of the globe for the app.

Twitter has shared some details about what has been responsible for the number of daily active users- a growth that they’ve been proud of.

This is related to new offers of subscriptions, more regulation on conversations, features like its Spaces, and even its Communities that have all been well applauded and received by users on the app.

While the number in which it’s all taking place has managed to bring in plenty of users, it’s still not huge. Nevertheless, the app is growing and that’s all that matters.


Read next: Birdwatch Is Elevating Contributions Provided By Users Whose Notes Are Deemed Helpful By Others

No comments: