Entertainment

Twitter tells advertisers that user growth is at ‘all-time highs’ under Elon Musk

According to a business document obtained by The Verge, during the first whole week that Elon Musk owned the platform, Twitter’s daily user growth reached “all-time highs.”

According to an internal FAQ shared with Twitter’s sales staff on Monday to use in interactions with advertisers, Twitter’s monetizable daily user (mDAU) growth has accelerated to more than 20% since Musk’s dramatic takeover while “Twitter’s largest market, the US, is expanding even more swiftly.”

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According to the FAQ, since the end of the second quarter, when it began disclosing financial information as a public business, Twitter has added more than 15 million mDAUs, “passing the quarter billion mark.”

These figures suggest that the service has not yet experienced a widespread exodus under Musk’s ownership if they are consistent with how Twitter published data when it was publicly traded.

On Sunday, he tweeted that “user numbers have surged dramatically around the world” since the announcement of his purchase of Twitter. For the second quarter, Twitter recorded 237.8 million mDAUs and a 16.6% annual growth rate.

Users may not be abandoning Twitter in great numbers, but advertisers are. Musk said that the company has experienced “a big decrease in revenue” as a result of “activist groups pressing advertisers” in another tweet on Friday. Advertisers were originally alarmed by reports of a large increase in racist and nasty tweets following his takeover, but Twitter later clarified that the inflow was caused by planned “trolling efforts.” As of Monday, “levels of hate speech remain within historical averages, approximately 0.25% to 0.45% of tweets each day among hundreds of millions,” according to the FAQ for advertisers.

Meanwhile, Twitter’s top advertising officer, Sarah Personette, resigned, and Musk’s gutting of the company’s leadership has left advertisers unsure of who to address their issues with.

Alex Josephson, a 10-year industry veteran and the vice president of Twitter Next, a group that has assisted businesses in developing campaigns on the social network since 2019, posted the FAQ on Monday within Twitter.

Musk’s Friday mass layoffs affected 25% of the workforce, according to his statement to the sales team, and “the decision to scale back our presence in chosen areas contributed significantly to the sales decrease.”

Advertisers have also expressed concern about Musk’s own tweeting, particularly a now-deleted tweet in which he promoted an unfounded idea on the violent attack on Paul Pelosi. One section of the Twitter advertising FAQ asks, “Do the same rules apply to Elon as to everyone else on Twitter?” The simple response is, “Yes.”

It also restates Musk’s claim that Twitter won’t change its content moderation policies until it forms and convenes a “content moderation council of widely diverse viewpoints.” It’s unclear if Musk knows that Twitter already has a Trust and Safety Council of outside experts.

Another part of the FAQ highlights how quickly things are changing inside Twitter right now: it says that the coming revamp of the Twitter Blue subscription that introduces paid verification “will not affect existing verified accounts at this time” and that “large brand advertisers who are already verified will now have an additional ‘Official’ label beneath their name upon Twitter Blue’s relaunch this week.”

When Musk first tasked employees with revamping Blue and how verification works, he wanted them to charge $20 a month and require that existing verified accounts pay or lose their checkmark after 90 days.

Musk slashed the cost to $8 per month when Stephen King and others expressed dissatisfaction with the price. And even though he initially threatened to terminate the crew if the new Blue subscription wasn’t released by November 7th, it has now been postponed until after this week’s midterm elections.

As of the time of publication, a Twitter spokeswoman had no comment on this report.

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