X is marking the one-year acquisition of the company previously known as Twitter by Elon Musk with a declaration that the platform now records an average of 1.5 million new sign-ups every day.
The billionaire completed the acquisition of Twitter in a $44 billion deal on October 27, 2022, and took over the company the same day. If the figure of the new daily users is anything to go by, it means the platform will be making an average of $1.5 million per day as it recently introduced a $1 fee for new signups.
Aside from the new sign-ups, the company’s CEO, Linda Yaccarino in her Anniversary note, users are now “living more of their lives on X” with 7.8 billion-plus active minutes spent on the platform daily. She said an average user spends more than 32 minutes of their day on X.
User base
While noting that over half a billion of the world’s most informed and influential people come to X every month, Yaccarino said:
- “That’s inclusive of our efforts to aggressively remove spam and inauthentic accounts – a step we believe is critical to improve the X user experience and grow the platform. We continue to see sign-ups average around 1.5 million per day.”
On its subscription package, X Premium, Yaccarino said the average X Premium subscriber spends three times longer on the platform than a non-subscriber.
- “We have launched this offering in over 200 countries and territories worldwide, and created more utility and fun with new features like longer posts and videos, audio and video calls, bookmarks, edit posts, prioritized rankings and verification – to name a few,” she added.
She, however, did not state the specific figure of the Premium subscriptions while reeling out other figures. Several independent reports have suggested that the X Premium introduced by Musk has been witnessing low subscriptions.
Advertiser momentum
Yaccarino said advertisers have been returning to the platform after it took action on brand safety, which won the confidence of the advertising community.
- “Since mid-May, all major agencies have reversed their pause guidance against advertising on X. Last quarter alone over 1,700 advertisers returned to X, from small businesses to major brands – including 90 of the top 100 ad spenders from a year ago. We are committed to making X the best place for businesses to launch new products, connect with culture and drive people to buy,” Yaccarino said.
She added that the company has also been fighting misinformation with its Community Note feature. Earlier this month, the platform came under heavy scrutiny by the European Union and it was accused of being the social network with most prevalent misinformation, especially as it relates to the ongoing Israel-Hamas conflict.
Yaccarino, however, said that the platform was addressing the issue through its Community Notes, which give contexts to posts found to be controversial.
According to her, Notes now has over 100K contributors in 44 countries and growing. But she admitted that “this product is not perfect, but it is improving rapidly. Notes are being seen tens of millions of times per day, and they are getting much faster – a necessity in a world where breaking information is inherently uncertain and X has outperformed traditional media.”
