X-iting changes: Elon Musk’s Twitter takeover first anniversary،
It’s been a year since Elon Musk ascended to the Twitter throne, and in that time, big changes have swept the social media platform, now rebranded as X, the app for everything. Notable updates include extended post duration, as well as the most recent addition of video and audio calls. However, last year also saw the introduction of various limitations for free users, including a cap on daily tweet/post reads. Today, X celebrates its first anniversary, with Linda Yaccarino, the company’s CEO, reflecting on the journey in a blog post. She looks at how X is performing under new leadership, sharing insights into the platform’s average usage and unveiling a vision for a global payments system.
According to the blog, the average user spends 32 minutes per day on X, collectively contributing to 7.8 billion active minutes per day. Yaccarino proudly notes that “more than half a billion of the world’s most informed and influential people» visit X every month, with an average of 1.5 million new registrations per day.
Although these numbers are slightly below Musk’s initial expectations, the company is staying the course, albeit at a slower pace.
Premium users on X stay three times longer than those who don’t spend, and it’s no surprise: According to the blog, the company distributed $20 million to creators.
However, third-party research doesn’t match all this positivity. For example, X puts on a happy face, saying that advertisers are making a comeback and that it’s all about keeping users safe by catering to different groups. But Reuters spilled the tea earlier this month, reporting that ad revenue on the platform is actually plummeting.
The blog post explores new features like X Hiring, allowing companies to post jobs directly. It also mentions security and freedom of expression, with the company specifying thatis now a place where everyone can express themselves freely, provided they do so in accordance with the law..”
However, regulators around the world are expressing dissatisfaction with X’s efforts to combat misinformation. The EU has found that X is struggling to combat misinformation on its platform and Australia has also joined in to cause trouble for X after the company allegedly removed a tool for reporting misinformation electoral.
Yaccarino concludes his blog post with a look at X’s future ambitions. The platform aims to be the “everything app” Musk envisioned and is actively developing new payment functionality for transactions and purchases. “We want money on X to flow as freely as information and conversations“, says Yoccarino. X has obtained initial money transfer licenses in several states, paving the way for the upcoming launch of a global payments system.
