Twitter Usage at All-Time High, Claims Musk; Advertisers Continue to Avoid Platform

Twitter seems to be going through a weird phase right now. On one hand, Elon Musk has indicated that user activity on the micro-blogging network has skyrocketed and remains at record-breaking levels. However, advertisers are concerned about the platform and have scaled back their promotional activities. Let's see what may have sparked this surge in usage and if it could benefit Twitter and Musk.

Twitter Usage At An All-Time High, Claims Musk

Elon Musk has been the new owner and CEO of Twitter for a little over a week, but he has already made several changes. Besides the revamped Twitter Blue subscription, he has even indicated the possible revival of Vine and discussed new features with Twitter users. It seems the new CEO's enthusiasm has rubbed off on users, and as a result, usage has skyrocketed, claimed Musk.

Musk's tweet did not offer any figures to back the claim. Moreover, he hasn't indicated if the spike in usage was momentary or sustained. Musk did send out a follow-up tweet stating he hoped "the servers don't melt", which suggests Twitter could be experiencing a lot of sustained user activity.

I just hope the servers don’t melt!

— Elon Musk (@elonmusk) November 8, 2022

Musk seems to have corroborated a leak published by The Verge, which claimed that Twitter usage had hit an all-time high under its new CEO and sole board member. A significant uptick in usage is usually welcomed by social media platforms. However, in Twitter's case, Musk remains concerned about keeping the lights on as he claims the platform has been bleeding around $4 million per day.

Are Advertisers Still Worried About Twitter Under Musk's Leadership?

The majority of Twitter's revenue currently comes from advertising and promotional activities, and it is on the decline. Musk is clearly trying to boost revenues and stem the company's losses. He even indicated that the decision to let half of Twitter's global workforce go was taken to reduce the overheads.

Presumably realizing they needed the talent, Twitter has been asking some of the people who were fired, to rejoin the company. It is not clear if employees who were laid off via email would rejoin. However, advertisers have not shown any positive response yet.

Musk had recently complained that Twitter revenue is down, something he blamed on "activists" pressuring advertisers. He has been vocal about Twitter's seemingly heavy-handed approach to free speech. It seems this has spooked advertisers. Musk had tried to assuage fears, and even threatened permanent suspension of accounts found guilty of impersonation.

Needless to mention, it is too early to predict the outcome of Musk's decision. But for now, people don't seem to be abandoning Twitter, presumably because they feel Twitter won't dare to suppress their voices.