Following Elon Musk’s takeover last week, Twitter has told advertisers that daily user growth has reached a “all-time high,” as several advertisers leave the platform amid internal turmoil.
According to a company doc obtained by The Verge, following Musk’s takeover, Twitter’s monetisable daily user (mDAU) growth has accelerated to more than 20%.
“Twitter’s largest market, the US, is growing even more quickly,” according to the document.
According to the report, Twitter has gained more than 15 million mDAUs, “crossing the quarter billion mark”.
Twitter recently reported 237.8 million mDAUs and a 16.6% year-on-year increase in its second quarter.
According to the Twitter FAQ for advertisers, “levels of hate speech remain within historical norms, representing 0.25 to 0.45% of tweets per day among hundreds of millions.”
Meanwhile, the Volkswagen Group has joined a number of other companies in suspending their Twitter advertising due to concerns that their ads may appear alongside inappropriate content.
According to reports, the Danish brewing company Carlsberg Group also advised its marketing teams to do the same. United Airlines has also halted its Twitter advertising.
Musk stated last week that Twitter’s revenue has plummeted due to activist groups putting undue pressure on its advertisers.
The new Twitter CEO stated in a tweet that these activist groups are destroying free speech.
“Twitter has had a massive drop in revenue, due to activist groups pressuring advertisers, even though nothing has changed with content moderation and we did everything we could to appease the activists,” Musk said in a tweet.
“Extremely messed up! They’re trying to destroy free speech in America,” he added.
The company lost $270 million from April to June as revenue fell 1% to $1.18 billion due to advertising industry headwinds.
Advertising revenue was $1.08 billion, while subscription and other revenue was $101 million, a 27% decrease year on year.
