Elon Musk said on Friday that the number of people using the social media platform X, which used to be called Twitter, hit a “new high.” He shared a graph that showed the number was now over 540 million.
𝕏 monthly users reach new high in 2023 pic.twitter.com/trqLGBEvvA
— Elon Musk (@elonmusk) July 28, 2023
Musk’s post on X about the number of users comes at a time when the company is making changes to its structure and trying to make up for a drop in advertising income over the past month.
It is also the latest in a string of claims from X’s leaders that the company is gaining a lot of users since Meta Platforms launched Threads, a direct competitor, on July 5.
RELATED: Twitter Threatens Legal Action Against Meta as Threads App Gains Popularity
A statement made before Musk bought the company in October said that 229 million people used Twitter every month in May 2022. Musk wrote on X in November that 259.4 million people used it every day.
Twitter added 1.6M daily active users this past week, another all-time high pic.twitter.com/Si3cRYnvyD
— Elon Musk (@elonmusk) November 22, 2022
Since he took over, Musk has moved quickly to make changes to products and the way things are run. The company made the verified blue tick a paid service and has begun giving some content creators on the site a cut of the ad sales.
We’re still negative cash flow, due to ~50% drop in advertising revenue plus heavy debt load. Need to reach positive cash flow before we have the luxury of anything else.
— Elon Musk (@elonmusk) July 15, 2023
Musk said earlier this month that X’s cash flow was negative because advertising sales had dropped by almost 50% and the company had a lot of debt.
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