Musk touts 'everything app' as Twitter sign-ups reach all-time high
Twitter is at a better place than it was last year during the same time, says Elon Musk, the company's new owner and CEO. According to him, the number of new users joining the platform is at an "all-time high." Musk also shared slides of his "Twitter 2.0-The Everything App" on Twitter. It will have some of the features we've been hearing about.
Why does this story matter?
The numbers posted by Musk are encouraging for Twitter which has been struggling to keep advertisers. A constant rise in the number of users is going to make those advertisers who left rethink their decision. Add to that his advertisement for Twitter 2.0. If Musk gets his way, that app will be a Meta rival, which no advertiser would want to miss out on.
New sign-ups on Twitter increased by 66% from last year
The new user sign-ups on Twitter are at an all-time high, according to Musk. In the seven days ending on November 16, there was an average of two million sign-ups per day, up by 66% from the same period last year. Previously, the monetizable daily active users (mDAU) on Twitter saw a weekly increase of 1.6 million in the week ended on November 20.
Impersonations spiked before and after Twitter Blue's launch
According to Musk, people spend more time on Twitter than they did before. Twitter averaged eight billion user minutes in the seven days that ended on November 15, a 30% increase from last year. Hate speech impressions have decreased compared to October last year. The data shows that impersonations spiked before and after the launch of Twitter Blue, but have come down since then.
'The Everything App' will have videos and payments
Musk's desire to create an all-encompassing app is well-documented. His acquisition of Twitter was seen as a precursor to the super-app. He has now given us a peep into "The Everything App." It will have features like encrypted DMs, long-form tweets, payments, and video, among others. Musk has talked about creating a WeChat-like app before. Therefore, we may see new features added to Twitter.
