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In spite of loss of millions of users other applications, despite lose millions of dollars in ad revenueand despite the pains to build his list of original video programming. Despite all of this, X continues to tell us that everything is fine, and in fact, better than ever, as it looks to rebrand and remarket the former bird app.
This week, X is once again advertised its great success during 2024despite, again, many, many indicators suggesting that the platform is on track to release a significant financial loss for the year.
According to X:
“X has not only evolved: it has transformed into a powerhouse of engagement and meaningful conversations. As a result, the advertisers who returned in 2024 are showing signs that they are here for the long haul!”
I don’t even know how an advertiser would show signs that it’s on the long road, but X has shared some new data and insights that it claims show it’s indeed on the right track.
First off, X says that video views are up significantly this year, which he’s shared before.
“UAS” is user active seconds, which is a questionable statistic we have previously explored more deeply.
X also says it’s becoming increasingly popular with Gen Z users, which “reflects the progress we’ve made in building long-term success for X by providing content, community and innovation that caters to this new wave of consumers.”
But this graph:
It doesn’t make much sense without further context or reference to the source. Does that mean Gen Z users using X are logging into those other apps every day at these rates? If so, then that’s not really an endorsement of anything, and if the claim is that all the users of all these other apps are also logging into X every day, there’s no way that’s true, because X’s daily active usage is significantly lower than a few of these applications.
X also claims to have launched a bunch of “game-changing” innovations of its year:
Which is another confusing claim that X has repeatedly made, that he’s innovating at some incredible speed and breaking industry norms with his releases. But not really. X, as a platform, remains fundamentally the same as it was when it was called Twitter, and none of these updates, except for Community Notes, are significantly different from what other apps launched first.
And Community Notes were already part of Twitter, so they’re not new. And while X likes to talk about its changes in approach and rapid innovation, I don’t see any significant progress in the app. And clearly, given that it continues to lose users, neither do others.
X also praised his original content:
“With exclusive content as one of our key drivers, we raised the bar this year through our Originals on X series. The mission is clear: we create long-term value by attracting new users to experience exclusive content only here. Projects like The Offseason, All In Boston Celtics docu-series, and collaborations with cultural icons like Jim Romero have captured audiences and driven deeper engagement on the platform, proving that storytelling on X is a big hit in 2024.”
I think X was hoping that Linda Yaccarino’s experience and connections, based on her years at NBCUniversal, would bring a slew of new programming to the app, but so far the results have been pretty disappointing. X signed content agreements with Paris Hiltonlittle Kardashian, Big 3and several right-wing commentators previously dismissed by the mainstream media. And the result is several shows.
Perhaps X will be able to step up its original programming efforts in 2024, but five exclusive originals, for a “key driver” element, doesn’t seem all that impressive.
X also shared a list of the most engaged “gold-tested brands”:
Gold verified are brands that pay top dollar to use the app, through X’s verification program.
Oh, wow, SpaceX, don’t tell.
X also shared a list of the most discussed topics on the app:
Sports continues to be a lifeline for X, with so many sports fans now accustomed to using the app to keep up with the latest news and commentary while watching live events. Without it, X would be in serious trouble, but again, X reframes his struggles as success.
Although I guess, what else is he supposed to do.
Look, despite my sheer cynicism, X is a relative success. The fact that the platform has laid off 80% of its staffand it hasn’t completely collapsed, it’s significant, no matter how you look at it, while also claiming to have more than 570 million userswhich is a huge audience. Despite the new challenges, X remains a key link for many communities, and that in itself is valuable for many brands and advertisers around the world.
X is, in relative terms, doing well in that regard, although it is on track to post a loss this year, and I understand that it has to frame everything in sunny terms. But that’s overly optimistic, and the often false claims also don’t do much to instill confidence in the app.
In essence, X reinforces claims that are not true or are clearly selective. That’s not to say that every negativity should be acknowledged, but for a platform that continuously criticizes all other media as promoting fake news, it seems like a flaw in its own communication plan.
Because every time he makes one of these claims, he makes you question all the other data.
But I get it, and I also think there will be an opportunity for brands in X in 2025, if that’s where your audience gravitates.
If X stays in business, that is (though I doubt it will).