Sensor Tower reports a 23% decline in app users for the rebranded social media site X since November 2022
Data from app-monitoring company Sensor Tower shows that Twitter usage in the US has declined by more than 20% since Elon Musk purchased the platform and rebranded it as X.
As of February 2024, the daily app users of this social network in America had decreased by 23% since November 2022, shortly after Musk’s acquisition. While other major social networks also experienced decreases during the same period, none saw as significant a drop as X.
TikTok saw a decline of just under 10%, while Facebook, Instagram, and Snapchat all experienced decreases of less than 5%, according to the data initially reported by NBC News.
According to Sensor Tower’s data, X saw a 15% decrease in its global daily active app users, bringing the total to 174 million. It’s worth noting that Sensor Tower’s data does not include users who access the social network through the web or desktop apps, and the company relies on various sources to maintain an accurate user panel.
Although X did not respond to a request for comment, the company indirectly disputed Sensor Tower’s findings in a public statement. In an unsigned message, X claimed that 250 million people use the platform daily, with 550 million visiting monthly. X also stated that both the “daily average time spent on the platform” and “daily active user minutes” have increased year over year.
Fidelity, one of the investors in Musk’s acquisition of the formerly publicly traded company, has adjusted its assessments to reflect the company’s declining value.
Fidelity’s blue-chip growth fund, which includes its stake in the company, has consistently reduced the value it assigns to the company. The latest adjustment shows a 71.5% decrease in value from November 2022 to November 2023.
With Musk paying $44 billion for his stake, Fidelity’s assessment now values the entire company at slightly over $12.5 billion.
A California judge dismissed Elon Musk’s lawsuit against the Center for Countering Digital Hate (CCDH), a non-profit that has published reports documenting the increase in racist, antisemitic, and extremist content on the platform since Musk acquired it.
In the ruling, US District Judge Charles Breyer wrote, “Sometimes it is unclear what is driving a litigation, and only by reading between the lines of a complaint can one attempt to surmise a plaintiff’s true purpose. Other times, a complaint is so unabashedly and vociferously about one thing that there can be no mistaking that purpose. This case represents the latter circumstance. This case is about punishing the defendants for their speech.”