Elon Musk Says Twitter Will Add Crypto DMs Payments; Subscription claims are at an all-time high as advertisers leave



Twitter CEO Elon Musk says new user registrations for the social media platform are at an “all-time high” as he grapples with an exodus of advertisers and users fleeing to other platforms over concerns about verification and hate speech.

averaged more than two million subscribers per day in the past seven days as of November 16, up 66 percent from the same week in 2021, musk he said in a tweet late Saturday.

It also said user active minutes were at a record high, averaging nearly 8 billion active minutes per day in the past seven days as of November 15, up 30 percent from the same week last year.

Hate speech impressions were down as of November 13 compared to October last year.

Impersonations reported on the platform spiked earlier this month, both before and in the aftermath Blue Twitter launch, according to Musk.

Musk, who also runs the rocket company SpaceXstart brain slices Neuralink And the tunneling company, The Boring Company, said buying Twitter would accelerate its ambition to create an “everything app” called X.

According to the tweet, Musk’s “Twitter 2.0 The Everything” app will contain features such as encrypted direct messages (DMs), long-form tweets, and payments.

In another tweet early Sunday, Musk said he sees “a path to Twitter passing 1 billion monthly users in 12 to 18 months.”

Advertisers on Twitter, including major companies such as General Motors, Mondelez International and Volkswagen, have paused advertising on the platform, while they grapple with the new boss.

Musk said Twitter was seeing a “massive drop in revenue” from a decline in advertisers, blaming a coalition of civil rights groups that pressured the platform’s top advertisers to take action if it did not protect moderation in content.

Activists urged Twitter advertisers to issue statements about pulling their ads from the social media platform after Musk lifted the ban on the former US president’s tweets. Donald Trump.

Hundreds of Twitter employees are believed to have left the embattled company, following an ultimatum from Musk that employees log “long hours at high intensity,” or leave.

The company earlier in November laid off half of its workforce, with teams responsible for communications, content management, human rights and machine learning ethics, as well as some production and engineering teams.

© Thomson Reuters 2022

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