this post was submitted on 16 Dec 2024
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X's declining user base: Elon Musk's platform projected to lose millions of users in 2025 (mashable.com)
submitted 10 months ago by mesamunefire@lemmy.world to c/technology@lemmy.world
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[–] tkw8@lemm.ee 34 points 10 months ago (9 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 10 months ago (8 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 10 months 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 10 months ago 
<angry_upvote>
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