Ron Black
2023-11-09 03:59:04 UTC
Twitter to lose 32m users in two years after Elon Musk takeover
Forecast predicts people will leave platform over technical problems and
spread of hate speech
More than 30 million users are expected to leave Twitter over the next two
years as concerns mount over technical issues and the proliferation of
offensive content after Elon Musks $44bn takeover, according to a
forecast.
The number of global monthly users is predicted to fall by nearly 4% next
year and 5% in 2024 more than 32 million in total in the first annual
declines forecast by the market research agency Insider Intelligence since
it began tracking the social media platform in 2008.
There wont be one catastrophic event that ends Twitter, a principal
analyst at Insider Intelligence, Jasmine Enberg, said. Instead, users
will start to leave the platform next year as they grow frustrated with
technical issues and the proliferation of hateful or other unsavoury
content.
Elon Musk's twitter account is seen displayed on a mobile phone screen
with the twitter logo on the background
Twitters skeleton staff, working around the clock, wont be able to
counteract the platforms infrastructure and content moderation problems.
Its report anticipates that Twitter will lose more users in the US, its
biggest market, than any other country, with numbers declining 8.2 million
over the next two years. By the end of 2024, US user numbers are forecast
to fall to 50.5 million, the lowest level since 2014, as the Twitter
becomes more unstable, and less pleasant.
In the UK, Twitter will lose about 1.6 million users over the next two
years, to a base of 12.6 million, Insider Intelligence said.
It predicts that while disillusioned users leaving the platform will occur
across all age demographics, the biggest concentration of departers will
come from the under-25 and over-45 age groups, which arent as loyal and
are less willing to tolerate a degrading experience.
Insider Intelligence has also slashed its forecast for ad revenue growth
for Twitter from 22% in 2023 and 16% in 2024 to essentially flat, as
advertisers pull back, pause or stop advertising over growing brand safety
concerns on the platform.
In November, the research company cut its outlook for Twitters ad revenue
growth by 40% this year.
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Musks primary focus in 2023 will be kickstarting Twitters revenue
engine, after losing many of its biggest advertisers and a long tail of
other advertisers who have been quietly quitting the platform, it said.
On Monday, Twitter abruptly dissolved its trust and safety council, an
advisory group of nearly 100 independent civil, human rights and other
organisations that the company formed in 2016 to address hate speech,
child exploitation, suicide, self-harm and other problems on the platform,
moments before a meeting scheduled with the company.
Forecast predicts people will leave platform over technical problems and
spread of hate speech
More than 30 million users are expected to leave Twitter over the next two
years as concerns mount over technical issues and the proliferation of
offensive content after Elon Musks $44bn takeover, according to a
forecast.
The number of global monthly users is predicted to fall by nearly 4% next
year and 5% in 2024 more than 32 million in total in the first annual
declines forecast by the market research agency Insider Intelligence since
it began tracking the social media platform in 2008.
There wont be one catastrophic event that ends Twitter, a principal
analyst at Insider Intelligence, Jasmine Enberg, said. Instead, users
will start to leave the platform next year as they grow frustrated with
technical issues and the proliferation of hateful or other unsavoury
content.
Elon Musk's twitter account is seen displayed on a mobile phone screen
with the twitter logo on the background
Twitters skeleton staff, working around the clock, wont be able to
counteract the platforms infrastructure and content moderation problems.
Its report anticipates that Twitter will lose more users in the US, its
biggest market, than any other country, with numbers declining 8.2 million
over the next two years. By the end of 2024, US user numbers are forecast
to fall to 50.5 million, the lowest level since 2014, as the Twitter
becomes more unstable, and less pleasant.
In the UK, Twitter will lose about 1.6 million users over the next two
years, to a base of 12.6 million, Insider Intelligence said.
It predicts that while disillusioned users leaving the platform will occur
across all age demographics, the biggest concentration of departers will
come from the under-25 and over-45 age groups, which arent as loyal and
are less willing to tolerate a degrading experience.
Insider Intelligence has also slashed its forecast for ad revenue growth
for Twitter from 22% in 2023 and 16% in 2024 to essentially flat, as
advertisers pull back, pause or stop advertising over growing brand safety
concerns on the platform.
In November, the research company cut its outlook for Twitters ad revenue
growth by 40% this year.
skip past newsletter promotion
Get set for the working day we'll point you to all the business news and
analysis you need every morning
Privacy Notice: Newsletters may contain info about charities, online ads,
and content funded by outside parties. For more information see our
Privacy Policy. We use Google reCaptcha to protect our website and the
Google Privacy Policy and Terms of Service apply.
Musks primary focus in 2023 will be kickstarting Twitters revenue
engine, after losing many of its biggest advertisers and a long tail of
other advertisers who have been quietly quitting the platform, it said.
On Monday, Twitter abruptly dissolved its trust and safety council, an
advisory group of nearly 100 independent civil, human rights and other
organisations that the company formed in 2016 to address hate speech,
child exploitation, suicide, self-harm and other problems on the platform,
moments before a meeting scheduled with the company.