Social media platforms like Twitter help to connect and connect with other users. Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams created Twitter on March 21, 2006. Since then, Twitter has become an essential platform for sharing news, updates, and ideas.
The rich cultural platform is a hub of influential and powerful ideologues. Debates, as well as jokes, spread faster on Twitter than on other platforms.
On October 27, 2022, Elon Musk acquired Twitter for $44 billion. One stop for all social media needs is the future of this platform. Promoting business, communication, entertainment, knowledge, and many other purposes are served by Twitter. Soon, Musk is ready to compete with job portals, as he plans to introduce them in the future.
Before these renovations, he fired 7,500 employees and dissolved the board of directors. In just one year, he completely changed the logo and name of the platform to now called X.
Importance of Twitter/X
Twitter is the fastest social media platform to share news and updates. The information reaches the target audience much earlier than any other platform. Interestingly, an option on Twitter lists trending topics in every region.
This social media platform allows users to reply to tweets. People can share their opinions and ideas with others.
B2B (Business to Business) and B2C (Business to Customers) marketers use Twitter to promote their brands. B2C’s can reach their target audience by using hashtags in their tweets. Professionals may collaborate with other businesses to enhance services.
Knowledge and resources are also available on Twitter. Apart from entertainment, users can get valuable news, information, and updates to stay informed about the world.
The real-time communication platform delivers tweets like instant messages. Twitter has a strong algorithm of reach that is beneficial to media persons. They can share news and information instantly without any restrictions.
Twitter has a retweet feature that allows retweets of others. The beneficial point of this option is that the information can reach the maximum number of people without following them.
Since its launch, Twitter has been aimed at different audiences. It is a one-stop platform for news and politics, where people and personalities like journalists, celebrities, athletes, and politicians can raise their voices on various topics. Political and sometimes controversial opinions spread quickly to its target audience.
Here are some amazing Twitter/X statistics that you should know:
According to DemandSage, Twitter has 572 million users globally, while 237.8 million daily active users are on the platform. In the list, it is in third place after Facebook and Instagram. The numbers are continuously increasing year after year.
The United States is the number one country in the world in terms of GDP and population and also in the list of active Twitter users. The US has 77.75 million monthly active users on the platform, and the list is followed by Japan (58.2) and India (24.45). Breaking down the US statistics, only 52% of users follow Twitter daily.
According to the survey, 84% of the total visits come to Twitter weekly, and 96% come to Twitter once a month. Data revealed that America spends 6 minutes per day on Twitter.
Regionally, North America leads the charts of active users on Twitter—15% of the total users identified from the region.
The Asian region ranked below North America. 69.5 million and 40.7 million users are from East and Southern Asia, respectively. Overall, 40% of Twitter users are active in these three regions and continuously growing.
Social media platforms are popular among teenagers and young people. Globally, 97% of teens use social media, and 75% have at least one social media account. But Twitter is popular among middle-aged people. 38.5% of users by 2022 are in the age group of 25-34. 37% of youth and 24% of teens use Twitter for multiple purposes.
According to Statista 2021, six out of ten users aged 25-49 spend time on Twitter. One factor influencing Twitter’s demographic statistics is its perks.
Most people use Twitter to share news and information. It is different from other platforms where users spend the most time, which resulted in an increased platform reputation, as we can see most of the mature content on Twitter.
Twitter’s user base consists of more men than women. 71.2% of users on Twitter are men, and the rest are women. But on the contrary, women are leading the charts of brand interactions and communications. This results from men’s passive approach, primarily using Twitter for updates and news.
Daily Interactions on Twitter/X
Twitter is a platform for customer interaction, recording 6,000 tweets per second. Globally, users send an average of 350,000 tweets per minute and 500 million tweets daily.
The data shows how often people are active on Twitter. The average time spent on Twitter globally in 2023 was 31 minutes, better than its rival platforms like Facebook and Instagram.
Revenue Generated by Twitter/X
Compared to other platforms, Twitter’s revenue is lower than expected. According to Twitter CEO Elon Musk, total revenue in 2023 is $3 billion, which is $1.4 billion less than in 2022. Twitter will earn revenue of $4.4 billion in 2022.
Its total revenue in 2022 was $4.4 billion. Breaking down its total revenue, $4 billion came from advertising and $0.4 billion from data and licensing. But this figure is continuously decreasing since the fourth quarter of 2021. 17% of Twitter’s total users are from the US, but 50% of the total revenue is generated from this country. At the end of 2022, the US contributed $2.4 billion, and $2 billion came from the rest of the world.
During the pandemic, engagement on social media platforms increased by 10.5%. People kept in touch with family or friends, work, and information. It also affected Twitter’s revenue from late 2019 to 2021. Twitter saw a 32% increase in its profit from $3.4 billion to $5 billion.
During the pandemic, engagement on social media platforms increased by 10.5%. People wanted to stay connected with family or friends, work, and information. It also affected Twitter’s revenue. Twitter saw a 32% increase in profits from the end of 2019 to 2021, from $3.4 billion to $5 billion.
Twitter/X for Business
The social media platform is not just for entertainment; it is an excellent platform for marketing. By 2023, 93% of marketers use online platforms to reach target audiences.
Reputable brands and medium-sized businesses market themselves online because they can easily reach their customer’s minds. 71% of medium-sized businesses globally use these platforms, and 52% post once a day.
As of January 2023, Twitter ranked with the second highest growth in web traffic referrals among all social media platforms. The growth rate increased to 34.3%, behind Instagram (114.4%). Brands are growing rapidly on Twitter, ranking second on marketers’ list of platforms.
About 82% use Twitter for B2B (business-to-business) content marketing. They share and promote their product with different brands and reach the target audience.
People keep track of their favorite brands for the latest updates and offers. The brand also does not disappoint by updating them regularly. 79% of Twitter users immediately follow brands for the latest updates, and brands respond through entertaining posts and offers.
Declining Graphs of Twitter/X
Despite a good user base and engagement, Twitter is continuously incurring losses. According to company data, Twitter remained in a net loss from 2012 to 2017. The platform recovered mainly over the next two years, but the story continued. In 2020, Twitter lost $1136 million, the steepest decline since its launch year.
Similar Web reports that Twitter lost 7.75% of its traffic in March 2023. Daily active users of Android apps also declined by 9.8%. Twitter’s paid plan became a reason behind this decline.
Twitter’s primary source of income is advertising revenue. Over the past eight years, a maximum of $0.5 billion came from other sources. 90% of Twitter’s revenue comes from advertising, but after Musk’s acquisition, Twitter’s advertising revenue decreased by 50%.
As Elon imposes many user restrictions, businesses rely on other social media platforms to maintain marketing costs.
Recently, Elon Musk confirmed that cash flow will be negative until mid-2023. The company needed help with a debt of $13 billion, which had to be repaid by July 2023. The pattern of losses is the same for the rest of the year. Twitter now relies on non-ad-based services like subscriptions to recover from the losses.
The longevity of Twitter is based on today’s generation, and we’re not backstepping from this. In 2023, 52% of tweets came from people born between 1997-2012. In the last few years, the number of active users of Twitter has remained the same.
The users’ forecast for Twitter is looking promising between 2024-2027. Reportedly, 42.3 million users will use the platform for various purposes, and the increment rate would be 10.19%.
Creators on Twitter/X
Gen-Z generation, where most content creators earn more than salaried professionals. About 207 million people considered themselves creators, but only a third chose this role full-time. Twitter will give much better returns than its other competitors. In mid-2023, Twitter announced an advertising revenue-sharing program. Creators will get a share of the amount Twitter has earned through them.
About 97% of the total a user can get. Twitter’s declining advertising revenue since last year can be revived with this program. However, ad revenue programs are available to creators with at least 15 million impressions in the last three months with 500 followers.
Valuable Data on Finance
According to the Twitter survey, 53% of people get financial and investment-related knowledge from this platform, whereas 40% invest their money based on information from Twitter.
Numbers increased since the pandemic, and the current CEO of Twitter can change the fortunes of any business or crypto with just one tweet. More than 1 billion tweets were made on cryptocurrencies alone during the pandemic.
In 2021, Musk announced that Tesla would receive payments in Bitcoin, increasing its price by more than 20% in just one day. The wealthiest man in the world has certain powers in monetary terms to manipulate the financial world. People follow finance news on Twitter because they know that at any moment, Elon Musk can make them profitable in no time.
Celebrities on Twitter/X
Apart from Twitter CEO Elon Musk, no other CEO or owner of the social media platform has topped the list of most followers on their platform. He is the most followed personality on Twitter with 155 million followers, followed by Barack Obama and Justin Bieber. Two global icons of athletes have topped the list of most followed athletes on Twitter.
Cristiano Ronaldo and Lionel Messi have 108 million and 61 million followers, respectively. As of 2019, people’s favorite gaming brand, PlayStation, was the most-followed brand on Twitter, with 17 million followers. Xbox, another gaming brand, was slightly behind with 13.5 million followers.
Social media platforms for entertainment purposes are mainly free to their users. Twitter was free until 2021, but Twitter’s CEO announced that users must pay $8 monthly to get the verified badge on their account. As a result, Twitter would generate $3.4 million monthly from its 424 thousand verified users with this move. Following Musk’s acquisition, Twitter imposed some restrictions on usage.
Earlier, it was a free platform, but from now on, users can send only 500 messages to anyone in a day. Similarly, a free user can make only 2400 tweets, including retweets. Technically, a user can follow only 400 accounts in a day. The microblogging platform prohibited aggressive following behavior to control fake reach and profit on tweets.
Rival of Twitter/X
On July 11, 2023, Mark Zuckerberg launched “Twitter Killer” threads. In just five days, 100 million users registered themselves on the platform. However, after 15 days, the thread lost 75% of its traffic due to needing more clarity. People were looking for an alternative to Twitter because Elon Musk had differentiated between free and paid users.
Threads are similar to Twitter in some ways. But according to the head of Threads, they want to avoid getting involved in politics like Twitter. So, now it’s just an image and video-sharing platform like its mother company Instagram.
Twitter is an excellent source of information, and young people use this resource to reach their target audience. Statistics show that Twitter continues to rise above other social media platforms. Whether you are a student, employed, or unemployed, this platform is helpful in your life. Twitter is suitable for communicating with family, relatives, friends, and colleagues.
But since Musk’s acquisition, some features are only available to subscribers, and you have to live under restrictions. Most users make their financial decisions through tweets, but sadly, rumors also spread on Twitter. A user must cross-check with multiple resources for their value judgments.
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Narendra Mohan Mittal
Narendra Mohan Mittal is a Senior Digital Branding Strategist and Content Editor with over 12 years of versatile experience. He holds an M-Tech (Gold Medalist) and B-Tech (Gold Medalist) in Computer Science & Engineering.