In a series of moves to revive user interest on X, Elon Musk has introduced new features for high follower count users, amid a drop in app engagement and a significant devaluation of the platform.
Elon Musk, the owner of the social media platform X (formerly known as Twitter), has announced a series of updates aimed at boosting user engagement. Users with more than 2,500 followers will now automatically receive verified status at no cost, and those with over 5,000 followers will gain free access to Premium+ features, including an ad-free browsing experience and the use of the AI tool Grok. These changes come as part of Musk’s strategy to encourage more active participation on X, amidst a backdrop of declining daily usage and concerns over an increase in advertisements.
Sensor Tower, a market intelligence firm, reports a significant decline in X’s app users, with a 23% drop in the US and a 15% decrease in daily active app users globally, down to 174 million. Despite these figures, X claims that 250 million people engage with the platform daily, and 550 million users visit monthly, also noting an increase in the daily average time spent on the platform.
The value of X has been dramatically impacted, with Fidelity marking down the company’s assessed value by 71.5% from November 2022 to November 2023, setting it just over $12.5 billion, a steep fall from Musk’s initial $44 billion investment.
Amidst these challenges, a California judge dismissed a lawsuit filed by Musk against the Center for Countering Digital Hate, which Musk argued was an attempt to silence critics.
In Australia, the ownership changes and strategic shifts under Musk have led to the Victorian Department of Families, Fairness and Housing announcing its departure from X. The department cited safety and productivity concerns, marking a growing trend among Australian government entities reassessing their presence on the platform due to declining engagement and increased toxic interactions. Other departments, including the Department of Jobs Skills, Industry and Regions, have also indicated plans to leave X.
