Twitter (now X) CEO Linda Yaccarino claims usage at ‘all time high’ in memo to staff
Reading Time: 3 minutesTwitter’s (now X’s) newly established CEO Linda Yaccarino touts the company’s success and X’s future plans in a company-wide memo obtained by CNBC. The exec once again claims, without sharing any specific metrics, that the service’s usage is at an ‘all time high,’ and hints at what’s to come in terms of new product experiences for the newly rebranded platform.
The service formerly known as Twitter has been working to become more than just a social network and more of an ‘everything app,’ as owner Elon Musk dubbed it.
As the Telsa and Space X exec explained in October 2022, telegraphing Twitter’s eventual rebranding, buying Twitter was meant to be ‘an accelerant to creating X, the everything app.’
His grand plan has been to create an app that allows creators to monetize their content, then later moves into payments services and even banking, Musk remarked during a Twitter Spaces livestream with advertisers in November. At the time, he even mentioned the possibility of establishing money market accounts on Twitter that would pay a high-interest rate to attract consumers to X.
Those possible product concepts were again referenced in Yaccarino’s new missive, when she writes, ‘Our usage is at an all time high and we’ll continue to delight our entire community with new experiences in audio, video, messaging, payments, banking – creating a global marketplace for ideas, goods, services, and opportunities.’
Twitter, now X, has already implemented some of Musk’s ideas around videos and creator monetization. In May, the company began allowing subscribers to upload two-hour videos to its service, which advertiser Apple then leveraged when it released the entire first episode of its hit Apple TV+ show ‘Silo’ on the platform. Fired Fox News host Tucker Carlson had been posting lengthy videos to Twitter as well, until ordered to stop by the network.
In addition, earlier this month, Twitter began sharing ad revenue with verified creators.
However, all is not well at Twitter X, whose traffic — at least by third-party measurements — has been dropping. Data from web analytics firm Similarweb indicated Twitter’s web traffic declined 5% for the first two days its latest rival, Instagram Threads, became generally available, compared with the week prior. Plus, Similarweb said Twitter’s web traffic was down 11% compared with the same days in 2022. Additionally, Cloudflare CEO Matthew Prince earlier this month tweeted a graph of traffic to the Twitter.com domain that showed ‘Twitter traffic tanking,’ he said.
Yaccarino subtly pushed back at those reports at the time, claiming that Twitter had its largest usage day since February in early July. She did not share any specific metrics or data. At the same time, however, the company was quietly blocking links to Threads.net in Twitter searches, suggesting it was concerned about the new competition.
Today, Yaccarino repeats her vague claims around X’s high usage in her company-wide memo even as analysts at Forrester are predicting X will either shut down or be acquired within the next 12 months and numerous critics concur that the X rebrand is destined to fail.
Yaccarino’s memo, otherwise, was mostly a lot of cheerleading, applauding X’s team for their work and touting X’s ability to ‘impress the world all over again,’ as Twitter once did.
The full memo, courtesy of CBNC, is below:
Ref: techcrunch
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