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X's declining user base: Elon Musk's platform projected to lose millions of users in 2025 (mashable.com)

submitted 1 week ago by mesamunefire@lemmy.world to c/technology@lemmy.world

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[–] tkw8@lemm.ee 34 points 1 week ago (1 children)

According to analysts at Emarketer, from when Musk acquired X in 2022 until 2025, they expect X to have lost 7 million monthly active users in the U.S.

The declining user base pales in comparison to the decline of X's brand and value. According to a recent report from Brand Finance, X's brand is now worth 673 million. The brand was valued at $5.7 billion before Musk's takeover in 2022. When it comes to revenue, X's revenue fell by 40 percent when compared to the prior year based on internal company data from June 2024.

[–] JoMiran@lemmy.ml 34 points 1 week ago (4 children)

X as a brand was worth $0 in 2022.
Twitter as a brand was worth $5.7 billion in 2022.
Elon took Twitter to the back of the shed and Old Yeller'd it.

[–] schizo@forum.uncomfortable.business 42 points 1 week ago (1 children)

Or if you prefer to be a lot more cynical, he Old Yeller'd it, but he burned it's equity to get himself elected Co-President, and is worth like a hundred billion dollars more than he was before he did that.

So really, it was a Very Wise and bigly Smart business move.

[–] JoMiran@lemmy.ml 19 points 1 week ago

<angry_upvote>

[–] Fredselfish@lemmy.world 18 points 1 week ago

Dude he doesn't care Twitter did exactly what he bought it to do. It can burn to the ground far as he is concerned. He bought himself a president and will be put in charge of the government that reglates his businesses. Dude going make more then he loss on Twitter .

[–] themeatbridge@lemmy.world 7 points 1 week ago

Which is exactly what the people who gave him the money wanted him to do with it.

[–] mac@lemm.ee 2 points 1 week ago (1 children)

Am I missing something? He bought it for $44bn

[–] Voroxpete@sh.itjust.works 7 points 1 week ago* (last edited 1 week ago) (2 children)

"Brand" means the value attached to the name, not the value of the company as a whole. With that being said, yes, Elon massively and hilariously overpaid for Twitter (around 50%-100% over the odds IIRC). He offered an absolutely insane price per share as a stunt to get them to change their hate speech policies, and the Twitter shareholders said "Deal" and took his money. That's why he sued them to try to get out of going through with the deal; he never actually meant to buy the company in the first place, he just made a really, really stupid attempt at a power move and it blew up in his face.

[–] mac@lemm.ee 3 points 1 week ago

Ahh I see. Thanks for the explanation. Too funny lol

[–] AustralianSimon@lemmy.world 1 points 1 week ago

And now he is basically another misinformation hub like Murdoch Media. Weirdly also with M's.... Musk Media.