X (formerly Twitter) - statistics & facts
X (formerly known as Twitter) is an online social networking service with a micro-blogging style, enabling users to partake in real-time conversations and follow updates via a newsfeed. X/Twitter was founded in 2006 and was well known for its little blue bird logo, which meant that rather than ‘posting’ content, users would ‘tweet’ – a word associated with the platform that holds its place in pop culture. 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.
Although the micro-blogging 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.
On average, worldwide users spent 5.3 hours on X per month in 2022, and they are specific about what kind of content they want from the platform. Overall, 55 percent of global X users preferred reading informative pieces of content on the service, whilst 39 percent wanted to see relevant posts. Additionally, in 2022, 59 percent of users in the United States stated they regularly got their news from Twitter.
Twitter’s last reported financials
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?
In 2023, there are an estimated 415 million X/Twitter users worldwide, with over 95 million of these users being in the United States. The service was more popular with men than women, with male users accounting for 63 percent of the platform’s user base.Although the micro-blogging 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.
Can X stay relevant?
X users like to follow everyone and anyone, from presidents and CEOs, to pop stars and artists. CEO Elon Musk was the most followed person on X/Twitter as of August 2023, with a total of over 140 million followers. Former U.S. President Barack Obama, Justin Bieber, Katy Perry, and Rihanna followed, all with over 100 million followers on the platform.On average, worldwide users spent 5.3 hours on X per month in 2022, and they are specific about what kind of content they want from the platform. Overall, 55 percent of global X users preferred reading informative pieces of content on the service, whilst 39 percent wanted to see relevant posts. Additionally, in 2022, 59 percent of users in the United States stated they regularly got their news from Twitter.
