25 Stats About Twitter Under Elon Musk
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A lot has happened since Elon Musk, the world’s richest man, officially took over Twitter in late October 2022 for a whopping $44 billion. Whether you’re a digital marketeer or not, I think it’s fair to say that nobody has been able to escape the noise surrounding this controversial takeover.
Many have questioned whether this is the end for Twitter, especially as Instagram launches the new platform ‘threads’. So today we’re going to take a deep dive into the speculation of whether Twitter is drawing to a close or whether in fact, this takeover has been one of the best decisions for this social network giant.
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15 Statistics That Highlight Speculation Of The Takeover:
- “Twitter laid off another 200 employees in February 2023. Twitter currently has a workforce of 2000 full-time people and several thousand contractors.” – demandsage
- “The user’s average number of tweets per month declined by around 25% following Musk’s acquisition.” – Pew Research
- Reference to Musk since the takeover has become a lot more common – “Users tweeted about him an average of three times between April 14 and Oct. 26 2022 – while Musk was in the process of acquiring the platform – and an average of six times in the months after the sale was finalised.” – engadget
- “Worldwide visits to twitter.com dropped 7.3% year-over-year in March, the third straight month of declines.” – Similarweb
- Since the takeover, “Six-in-ten U.S. adults who have used Twitter in the past year say they have taken a break from the platform recently.” – Pew Research
- “Elon Musk has vision to make Twitter into an ‘everything app’ with X rebrand.” – CNBC
- “16% of U.S. adults have a very favourable opinion on Elon Musk, while 14% have a very unfavourable opinion.” – demandsage
- “The number of global monthly users is predicted to fall by nearly 4% next year and 5% in 2024 – more than 32 million in total.” – The Guardian
- “Musk’s primary focus in 2023 will be kickstarting Twitter’s revenue engine, after losing many of its biggest advertisers and a long tail of other advertisers who have been quietly quitting the platform.” – The Guardian
- “Google searches for ‘Twitter sign up’ have fallen 81% since peaking last November.” – Business Insider
- “Twitter’s unique web page visitor count year over year in March; on Twitter’s Android app, average daily active visitors were down by 9.8% in March year over year.” – Vox
- “By the end of 2024, U.S. user numbers are forecast to fall to 50.5 million, the lowest level since 2014.” – Insider Intelligence
- “15% of UK users and 22% of US users claim to have spent less time on the platform after the takeover.” – MarketingWeek
- “The number of people using Twitter in the U.S. has decreased almost 9% since Elon Musk took over.” – BuzzFeedNews
- “Insider Intelligence has slashed its forecast for ad revenue growth for Twitter from 22% in 2023 and 16% in 2024 to ‘essentially flat’, as advertisers pull back, pause or stop advertising over brand safety concerns.” – Insider Intelligence
10 Statistics That Highlight The Success Of The Takeover:
- “Musk’s public approval rating as CEO has increased to 34%, up from 30% before his purchase of Twitter was complete.” – Hootsuite
- “Twitter’s global reach has increased by more than 2% since Musk took over in October, equating to an additional 12 million users.” – Datareportal
- “Twitter’s ad reach in the US continues to grow, with the latest numbers up by 4% since October 2022, and by 24% since this time last year.” – Datareportal
- “People spend 26% more time viewing advertisements on Twitter compared to other platforms.” – Demandsage
- “Among active US Twitter users, almost half (44%) report a more positive view of the platform, versus 21% who feel more negatively.” – MarketingWeek
- “Three quarters (76%) of UK Twitter users and 75% of US Twitter users say they have maintained or increased their use compared to pre-acquisition.” – MarketingWeek
- “Twitter usage is growing 30% faster than Instagram among Gen Z.” – Hootsuite
- “Users have tweeted about Musk an average of three times between April 14 and Oct 26, 2022 – whilst Musk was in the process of acquiring the platform – and an average of six times in the months after the sales was finalised.” – engadget
- “While many were claiming that Twitter’s traffic took a hit after the launch of threads. Twitter’s CEO, Linda Yaccarino took to Twitter to reveal that Twitter had the largest usage day since Friday.” – demandsage
- Elon Musk announced a milestone on November 23, 2022 – “There were a record 20,000 tweets per second during the World Cup.” – Hootsuite
In Summary
It’s clear to see that there’s still an ongoing debate for the future of Twitter, especially as there continue to be further significant changes such as the new rebrand to ‘X’.
Twitter has a wide range of users from all over the world, however, with the majority of users being located in the U.S. it seems that the takeover has had less of an impact on these users in comparison to users from other countries such as the UK. Although there tends to be a lot more speculation over this takeover, only time will tell how this exchange will determine the future of Twitter.
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