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In the year since Elon Musk’s acquisition of the social media platform formerly known as Twitter, now renamed “X,” there has been a significant drop in both user engagement and advertising revenue.that after Elon Musk took the reins of Twitter a year ago, both the billionaire himself and his admirers had high hopes and a vision to transform the platform, resulting in a surge in popularity and value. However, recent data paints a different picture.
Twitter has lost approximately 13 percent of its daily active users since Musk bought the company in October 2022, and the platform’s rebrand from Twitter to X has only accelerated the decline, according to data obtained by The Wrap. The platform’s daily user base reportedly declined from an estimated 140 million users to 121 million under Musk’s direction. There is also a widening gap between people who check the app daily vs. monthly.
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