Elon Musk stated on Friday that month-to-month customers of social media platform X, previously often called Twitter, reached a “new high” and shared a graph that confirmed the most recent rely as over 540 million.
Musk’s submit on X in regards to the person figures comes as the corporate goes by way of organisational adjustments and appears to spice up promoting income which has dropped within the latest month.
It can be the most recent in a collection of feedback from X’s executives claiming robust traction in utilization, after Meta Platforms launched a direct competing platform referred to as Threads on July 5.
Twitter had 229 million month-to-month lively customers in May 2022, in response to a press release made earlier than Musk’s buy of the agency in October. Musk posted in November that X had 259.4 million every day lively customers.
Since taking up, Musk has swiftly moved by way of quite a lot of product and organizational adjustments. The firm rolled out the verified blue tick as a paid service and has began sharing a minimize of the advert gross sales with choose content material creators on the platform.
In May, Musk named former NBCUniversal promoting chief Linda Yaccarino as CEO of X, signalling that advert gross sales had been a precedence even because the platform labored to extend the subscription income.
Musk stated earlier this month that X’s money stream was damaging due to a virtually 50 % drop in promoting income and a heavy debt load, with out providing particulars.
Meanwhile, Musk’s resolution to rebrand Twitter as X may very well be difficult legally: firms together with Meta and Microsoft have already got mental property rights to the identical letter.
X is so extensively used and cited in logos that it’s a candidate for authorized challenges – and the corporate previously often called Twitter might face its personal points defending its X model sooner or later.
“There’s a 100 percent chance that Twitter is going to get sued over this by somebody,” stated trademark legal professional Josh Gerben, who stated he counted practically 900 lively U.S. trademark registrations that already cowl the letter X in a variety of industries.
Owners of logos – which shield issues like model names, logos and slogans that establish sources of products – can declare infringement if different branding would trigger client confusion. Remedies vary from financial damages to blocking use.
Microsoft since 2003 has owned an X trademark associated to communications about its Xbox video-game system. Meta Platforms – whose Threads platform is a brand new Twitter rival – owns a federal trademark registered in 2019 masking a blue-and-white letter “X” for fields together with software program and social media.
Meta and Microsoft possible wouldn’t sue until they really feel threatened that Twitter’s X encroaches on model fairness they constructed within the letter, Gerben stated.
The three firms didn’t reply to requests for remark.
© Thomson Reuters 2023
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