Twitter Will Reportedly See User Exodus, Revenue to Be Flat for Two Years

Social media platform Twitter will see an exodus of customers attributable to modifications being made by new proprietor and Chief Executive Officer Elon Musk and flat income development for the subsequent two years, based on a report by Insider Intelligence on Tuesday.

Experts and customers have had issues about Twitter’s skill to struggle misinformation after it let go about half of its workers, together with these concerned in content material moderation.

Twitter, which went non-public in October, will lose extra customers within the United States than in any of the nations Insider Intelligence tracks, the report stated, including that month-to-month customers will fall to 50.5 million in 2024, the bottom degree since 2014.

“Users will start to leave the platform next year as they grow frustrated with technical issues and the proliferation of hateful or other unsavoury content,” stated Jasmine Enberg, principal analyst at Insider Intelligence.

The market analysis agency stated Twitter’s income development will probably be flat for the subsequent two years as income and staffing losses have made it tougher for Musk to ship new merchandise to extend utilization and engagement on the platform.

Musk in November attributed a “massive drop in revenue” to civil rights teams which have pressured manufacturers to pause their Twitter advertisements. The social media agency earns about 90 p.c of its income from promoting commercials.

On Monday, the corporate disbanded its Trust and Safety Council, a volunteer group fashioned in 2016 to advise the social media platform on website selections, based on an e-mail reviewed by Reuters.

About half of the social media website’s workforce — round 3,700 staff — have been laid off since Elon Musk took cost of the corporate and launched a cost-cutting drive. More than a 1,000 have resigned, amongst them Yoel Roth, the corporate’s former head of belief and security.

“As Twitter moves into a new phase, we are reevaluating how best to bring external insights into our product and policy development work. As part of this process, we have decided that the Trust and Safety Council is not the best structure to do this,” an e-mail despatched to the Trust and Safety Council members, seen by Reuters, stated. A Twitter web page for the group has been deleted.

The council comprised of varied civil rights organisations, teachers and different our bodies that advocated for security and suggested Twitter because it developed merchandise, programmes, and guidelines, based on a Web archive for the web page.

© Thomson Reuters 2022