Twitter’s user base will decline by over 32 millions users between 2024 and 2028 as Elon Musk takesover results in more hate-speech and technical problems.

Insider Intelligence data showed that Twitter will lose more than 32 million users over the next two years following Elon Musk’s acquisition. Getty Images
Insider Intelligence discovered that Twitter could lose more than 32 million users over the next two-year period. Elon Musk fired thousands upon November and left few people to manage the platform. Twitter will lose more users in the US that in any other country.

Data from Insider Intelligence indicated that Twitter could lose over 30 million users within the next two-years after Elon Musk assumed control in November.

According to Insider Intelligence’s annual decline forecast, Twitter will lose nearly 4% and 5% of its users by 2023, respectively. This would mean that over 32 million Twitter users will be leaving the platform. Insider Intelligence has been following the platform since 2008.

Insider Intelligence stated that users will leave the platform if they are frustrated by the platform’s technical problems and the increased amount of hate speech and offensive material.

Jasmine Enberg (principal analyst at Insider Intelligence) stated that “there won’t be one catastrophe that ends Twitter.” “Users will leave Twitter next year as they become frustrated by technical issues and the proliferation of hateful or unsavory content.

“Twitter’s skeleton team, working round the clock, will not be able to combat the platform’s infrastructure or content moderation issues.”

Twitter users are expected to drop more in the US than any other country, with numbers dropping from 58.7 millions in 2022 to 50.5million by 2024.

The report stated that most departures will occur between 25 and 45 years old because they aren’t as loyal or willing to endure a degrading experience.

Insider Intelligence also stated that the forecast for Twitter’s ad revenue growth fell to “essentially flat” over the next two-years. The company had expected double-digit growth for the platform in 2023 and 2024.

A number of companies, including Audi, Volkswagen and Pfizer, stopped advertising on the platform after Musk’s purchase. This was due to concerns about Musk’s content moderation policies.

Enberg stated that despite the grim outlook, Musk may still be able to reverse the trend of user drain if he manages to avoid service outages and possible outages, fix platform content moderation issues, and integrate new services into his app to drive revenue.

Musk began a firing spree in November and laid off half the company’s roughly 8000 employees. Another 2,000 employees resigned when Musk issued an ultimatum that they must either join his “hardcore Twitter 2.0” or quit. Insider was told by a Twitter executive that the platform will be subject to more glitches and issues as fewer employees are available.

Insider asked Twitter for comments on user decline but was not answered.

Business Insider has the original article.
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By: sbhaimiya@insider.com (Sawdah Bhaimiya)
Title: Twitter will lose over 32 million users by 2024 as Elon Musk’s takeover causes more hate speech and technical problems, report says
Sourced From: www.businessinsider.com/twitter-lose-32-million-2-years-after-elon-musks-takeover-2022-12
Published Date: Thu, 15 Dec 2022 12:56:22 +0000