X User Base is No Longer Growing Because of Elon Musk? New Report Shows Stagnant Numbers

It has been almost two years since Elon Musk took over Twitter and renamed it 'X,' and the latest numbers show no longer any growth in its user base under this ownership. Throughout almost two years of direction from its owner, massive changes to X were made, effectively ridding it of any traces of Twitter, with Musk moving forward with its new direction since then.

The latest report shows stagnant numbers and little growth for the X social media platform compared to before the tech billionaire took over.

X User Base No Longer Growing Under Elon Musk?

The Financial Times released a report claiming that for Q2 2024, X only saw 251 global daily active users. This represents a deep look at Elon Musk's leadership of the platform. This is still an increased rate of 1.6 percent compared to last year, Q2 2023, in contrast to Twitter's previous performance before the Musk takeover.

Additionally, from Q2 2023 to Q2 2024, X only saw four million users join the platform and create accounts.

In the last quarter of 2022, Musk shared that Twitter had seen massive growth since he took over, with 1.6 million daily active users, recording an all-time high.

X's Stagnant Numbers and Little Growth

It is important to note that in Q2 2024, X recorded 251 million global daily active users, similar to October 16, 2022 numbers, according to Mashable, a week before Musk's takeover. This shows that X is back where it started with Elon Musk, but today's performance is considered stagnant, with the platform not publicly sharing its daily active user numbers.

X Under Elon Musk's Direction

When Elon Musk finalized the Twitter acquisition in late October 2022, one of his first orders of business was to post a meme on the platform and enforce the Twitter Blue paid verification subscription for all. This led to many new features, including long-form tweets, edits for posted tweets, the blue checkmark, and more, but these were all hidden behind a paywall.

It is also known that in Musk's first few weeks as CEO, massive changes were made, including giving amnesty to permanently banned accounts to return to the platform. All of these led to Twitter losing as many as 1.3 million users to alternative social media platforms adjacent to Musk's company, boycotting it because of its new owner.

Since then, Musk claimed that Twitter will evolve and do so quickly, but rivals have proven to be a challenge, including Meta's Instagram short-word social media version, Threads. From Twitter to X and features being put behind its X Pro, social media continues to change under Elon Musk and its new CEO, with its user base now stagnated and only growing at a small scale.