The Future of Twitter in the Next Two Years
Did you know Twitter is the world’s seventh favourite social media platform in the world? However, unlike other social networking sites, Twitter has maintained its distinct identity of being one of the most popular micro-blogging sites worldwide.Thank you for reading this post, don't forget to subscribe!
The company got a major boost when Elon Musk became its official CEO last year. Though the entire episode was a bit controversial, eventually, things sorted out. But its mass layoffs in recent times and several other changes within the platform have compelled Twitter users to think about its future.
As Twitter will celebrate its 17th anniversary on March 21st, it would be interesting to see what’s in store for Twitter in the days ahead.
Before taking a look at its future, here are some mind-boggling statistics about Twitter for you
· Around 390 million Twitter accounts have zero followers.
· After Elon Musk’s takeover of the company, Twitter faced 9 lawsuits.
· Twitter has over 260 million daily users who visit the platform at least once a day.
· By this year-end, 6% of US users are likely to leave the platform.
· The US has the greatest number of Twitter users, as over 83 million people across the US are Twitter users.
· Over 43% of marketers use Twitter for brand promotion activity.
· Around 90% of people use Twitter to find out new products and items.
· More than 65% of links within tweets lead to digital news websites and other sources.
· Around 23% of Twitter users feel that they used the platform to reflect their political views.
The Challenges Before Twitter: A User Perspective
Twitter is mired in plenty of problems. According to ExpressVPN, the next two years will be critical for the micro-blogging site. The platform is likely to lose over 33 million users during this period, which could badly impact its overall business and ROI.
The list of problems that often keep Twitter in the eyes of the storm of users for the wrong reasons.
Twitter had over 3800 employees in November 2022 when Elon Musk bought the company. But now its headcount has gone down to 1800. The mass layoffs by the company have badly impacted its overall infrastructure, as many of its senior employees who handled its IT department and servers are now fired. Users are paranoid about their data safety and the possibility of their accounts getting hacked.
Unless checked, Twitter can become a breeding ground for hate messages, political propaganda, and misinformation. Tesla’s CEO is a great advocate of free speech, but unless Twitter comes out with some sort of content moderation tool or AI-backed algorithm, it may actually lead to an open platform of abusive language and hate speeches.
All is not well with Twitter as its revenue-generating capacity from sponsors is concerned. If Twitter really loses over 33 million active users in the next couple of years, sponsors may choose to pull back. Even Elon Musk admitted last November that he was not sure how long the company will continue in its present financial situation.
Despite all the worrisome business indications and forecast reports, Elon Musk is a master innovator. He knows how to surprise people. You may never know what Elon Musk is up to. With better algorithms and outreach programs, Twitter may able to boost its revenue and improve its financial condition.
Twitter: The Future Ahead
It’s not easy to predict or forecast anything. Especially when Tesla CEO Elon Musk is at the helm, you never know how things will take shape. Anything can happen, and Musk won’t shy away from walking the extra mile to reinvent other possibilities for making Twitter great again.
A market intelligence company, Apptopia, reported that as soon as Musk took over Twitter, the app was downloaded over 125,000 times, indicating 42% more downloads as compared to 2021. However, things may or may not be the same.
Though Twitter witnessed stiff growth in its user base since November 2022, when Musk bought it, this year it is likely to witness an over 4% fall in its user base by December end. The downward trend will continue in 2024, too. Moreover, according to market forecasts, Twitter’s subscription is likely to dwindle more in the US. In the States, Twitter is likely to lose over 4 million users alone in 2023.
Thus, the next couple of years will be crucial for Twitter. The future journey of Twitter and its growth trajectory will be based on how 2023 and 2024 will unfold for it!