X (formerly Twitter) - statistics & facts
Old habits die hard, especially for users of X. Following the full migration of Twitter to X, users are slow to adopt the platform's new name, and posts are still referred to as Tweets, as the little blue bird logo continues to hold its place in pop culture. However, the microblogging platform remains popular as a source of news and audiences around the world are still loyal to the platform formerly known as Twitter.
Company financials have not been available since Twitter’s last annual report was published in early 2022. In 2021, before any major changes were even on the horizon, Twitter’s annual revenue amounted to over five billion U.S. dollars and the company incurred a net loss of 221 million U.S. dollars. Overall, most of Twitter’s revenues were generated via advertising, with a small portion being generated through data licensing. The second quarter of 2022 saw Twitter’s last reported quarterly income, which stood at a loss of 270 million U.S. dollars.
Although the microblogging platform is popular and well known, its audience size does not compare with other social media giants such as Facebook, YouTube, WhatsApp, and Instagram – all of which have over two billion monthly active users. In terms of social media website visits, X ranked in fourth position in the United States, after Facebook, Instagram, and Pinterest, respectively.
The way users utilize X has not undergone any significant changes, and social media audiences are not particularly displeased with the rebranding. The fresh name, however, lacks the same impact as the original, which clearly etched itself into the minds of online users everywhere.
The Twitter takeover
In April 2022, businessman and entrepreneur Elon Musk announced his plans to acquire the publicly listed company and completed the transaction in October 2022. In April 2023, Twitter became X Corp., following the decision of new owner and CEO Musk to merge Twitter with X Holdings, with the service being referred to as simply X. Since the new ownership, the company has undergone many changes and is no longer publicly traded.Company financials have not been available since Twitter’s last annual report was published in early 2022. In 2021, before any major changes were even on the horizon, Twitter’s annual revenue amounted to over five billion U.S. dollars and the company incurred a net loss of 221 million U.S. dollars. Overall, most of Twitter’s revenues were generated via advertising, with a small portion being generated through data licensing. The second quarter of 2022 saw Twitter’s last reported quarterly income, which stood at a loss of 270 million U.S. dollars.
Where is X on the social media stage?
As of early 2024, there were an estimated 429 million X users worldwide, with over 106 million of these users being in the United States. As of July 2024, there were an average of 67 million active logged-in users of X in the European Union. Overall, the service was more popular with men than women, with male users accounting for almost 61 percent of the platform’s user base.Although the microblogging platform is popular and well known, its audience size does not compare with other social media giants such as Facebook, YouTube, WhatsApp, and Instagram – all of which have over two billion monthly active users. In terms of social media website visits, X ranked in fourth position in the United States, after Facebook, Instagram, and Pinterest, respectively.
Read all about it on X
The microblogging style of X makes it easy for users to engage in live conversations and keep up with the latest happenings via a feed. A 2024 study found that 53 percent of people who use X regularly used the platform to access news. Users of major platforms like Facebook, Instagram, TikTok, and YouTube, on the other hand, were far less likely to get their news from those platforms. Moreover, according to a global survey conducted in February 2024, 53 percent of X users reported paying attention to mainstream news outlets on the service, while 43 percent said they paid attention to politicians and political activists on X.What’s in a name?
Even though X has been under scrutiny to maintain Twitter’s legacy, loyal users are not overly critical about recent changes – one of which was saying goodbye to the blue bird concept and saying hello to the new minimalist ‘X’ logo. As of August 2023, 24.4 percent of global X users said they felt positive about the new logo, whilst 19.64 percent felt negatively about it. However, X users and the public are clinging to the platform’s original name, and over 55 percent of daily X users still refer to the platform as Twitter, as do 49 percent of all U.S. adults.The way users utilize X has not undergone any significant changes, and social media audiences are not particularly displeased with the rebranding. The fresh name, however, lacks the same impact as the original, which clearly etched itself into the minds of online users everywhere.
