X usage has fallen off a cliff since Elon Musk’s purchase of the company, with the platform’s ad business plummeting.
X execs have tried to pass off the company’s health and prospects as on the upswing, but a new report by Axios indicates nothing could be further from the truth. Worldwide app downloads have dropped 38%, with downloads in the US dropping a whopping 57%.
Musk previously said the platform lost roughly 60% of its ad business post-purchase. While CEO Linda Yaccarino has said advertisers are returning to the platform, evidence would suggest otherwise, with the world’s biggest advertisers still shunning it.
Meanwhile, Threads is on a roll, with the platform delivering on Mark Zuckerberg’s promise to continue improving and adding features. Threads has now topped 120 million monthly active users, and 33 million daily active users, and shows no signs of abating.