Elon Musk announced on Friday that the monthly user count of social media platform X, formerly known as Twitter, has reached a “new high.” Musk shared a graph indicating that the latest count is over 540 million.
Musk’s post on X about the user figures comes as the company undergoes organizational changes and aims to boost advertising revenue, which has experienced a recent decline.
This update is part of a series of comments from X’s executives, showcasing the platform’s strong traction in terms of usage. It is worth noting that Meta Platforms launched a direct competing platform called Threads on July 5.
According to a statement released before Musk’s acquisition of the company in October, Twitter had 229 million monthly active users in May 2022. In November, Musk posted that X had 259.4 million daily active users.
Since taking over, Musk has implemented various product and organizational changes. The company introduced the verified blue tick as a paid service and started sharing a portion of the ad sales with select content creators on the platform.
In May, Musk appointed former NBCUniversal advertising chief Linda Yaccarino as the CEO of X, emphasizing the significance of ad sales while also working to increase subscription revenue.
Musk recently stated that X’s cash flow has been negative due to a nearly 50 percent drop in advertising revenue and a substantial debt load, though he did not provide specific details.
Meanwhile, the rebranding of Twitter as X by Musk may face legal complications, as other companies such as Meta and Microsoft already hold intellectual property rights to the letter “X.”
X is widely used and cited in trademarks, making it susceptible to potential legal challenges. The company formerly known as Twitter could encounter difficulties defending its X brand in the future.
“There’s a 100 percent chance that Twitter is going to get sued over this by somebody,” commented trademark attorney Josh Gerben. He revealed that he found nearly 900 active U.S. trademark registrations covering the letter X across a wide range of industries.
Trademark owners can claim infringement if other branding causes consumer confusion, and remedies may include monetary damages or blocking use.
Microsoft has owned an X trademark related to communications about its Xbox video-game system since 2003. Meta Platforms, the creator of Threads, holds a federal trademark registered in 2019 covering a blue-and-white letter “X” for software and social media.
Gerben stated that Meta and Microsoft are unlikely to sue unless they perceive that Twitter’s use of the letter X encroaches on their brand equity.
All three companies did not provide comments upon request.
© Thomson Reuters 2023
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