Elon Musk’s Post Acquisition Honeymoon is Over as Twitter Usage Starts to Decline

Elon Musk’s long legal battles that eventually led to him becoming the owner of Twitter, many claimed that this would spell the end for the struggling social media platform. In spite of the fact that this is the case, Twitter actually saw a 10% uptick in downloads and 1% increase in daily active users directly following Musk taking the helm. This seemed to suggest that Musk’s control over the company would help it steer out of the troubles waters it had recently found itself in.

With all of that having been said and now out of the way, it is important to note that this honeymoon period now appears to be over. Twitter’s total installs, which saw an undeniable uptick in the aftermath of Musk’s acquisition, have now returned to normal levels. What’s more, users spent an average of 19.1 minutes on Twitter every day in April, which indicates that this metric has not grown at all year over year since this is the same number as April 2022.

Despite Musk’s bold claims that he will revolutionize the platform once and for all, downloads have fallen in the past few months. In April of 2022, Twitter received 17.5 million downloads across all platforms, but a year later this number has declined to just 16.2 million with all things having been considered and taken into account.

However, there are still some positive signs that can be taken note of. For example, in-app revenue for Twitter has increase considerably during Musk’s tenure as CEO and owner. Between the months of April and May in 2022, Twitter brought in approximately $120,000 from in-app revenue. A year later, this number hovers at around $3 million, representing a whopping increase that proves that at least some of Musk’s methods seem to be working out.

This is largely thanks to Musk’s monetization of the blue tick by rolling out Twitter Blue which allowed any user to get the verification mark so long as they paid the 8-11 dollar a month fee. Individual subscriptions such as Musk’s $4 a month package and Mr. Beast’s $5 a month subscription offer also turned out to be extremely popular products on the platform.

This still doesn’t change the fact that Twitter is lagging behind virtually all of its competitors. TikTok receives 87 minutes of usage per user per day, Instagram averages 43 minutes per user, and for Facebook users this number sits at approximately 39 minutes every day. Twitter, on the other hand, only managed 25 minutes of daily usage per day, and that puts it ahead of just Snapchat with every other competitor surpassing it.

The uptick in sales for Twitter Blue and personal subscriptions might not be enough if daily users continue to decline. Advertisers will start pulling marketing campaigns off of the platform because of the fact that this is the sort of thing that could potentially end up redirecting these resources towards other avenues.

Musk is now stepping down as CEO, with Linda Yaccarino coming in to replace him, and it will be interesting to see how she handles things. With his controversial tenure coming to a close, Musk will have a tough time reaching his target of one billion users by 2024.

H/T: Business Insider 

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