Elon Musk’s Twitter sees revenue increase after “X” rebrand: report

Filip Troníček, CC BY-SA 4.0 , via Wikimedia Commons

Mobile app intelligence firm Sensor Tower has observed a rather interesting trend about X, Elon Musk’s social media platform previously known as Twitter. As per the firm, Twitter’s rebrand to X appears to have negatively affected the social media platform’s rankings, but it also seemed to have paved the way for an improvement in revenue. 

As per Sensor Tower, over the weeks following Twitter’s rebranding to X, weekly active users dropped by 4%. But at the same time, revenue saw a notable increase following the X rebrand. From August 6 through August 20, X’s revenue jumped by ~25%. The jump was primarily driven by revenue from iOS. 

Industry watchers have noted that X’s higher revenue following its rebrand may be related to an increase in the number of users that are subscribing to creators and services such as X Premium, which provides key features and a blue checkmark for users. This is quite an interesting trend, considering that subscribers of X Premium were initially heavily mocked or bullied by critics. 

Perhaps one driver that may have resulted in an influx of subscriptions to X Premium is the social media company’s generous ad revenue-sharing program. As per the social media company’s help center, the ads revenue sharing program allows users to share revenue from verified users’ organic impressions of advertisements displayed in replies to content that is posted on X. An X Premium account is required to be eligible for the program. 

As noted in a TechCrunch report, Twitter’s rebrand to X seems to have led to some confusion. Thus, downloads of Twitter Lite, which is designed for emerging markets, saw a notable increase following the company’s rebranding. In the first week of the rebranding, for example, Twitter Lite downloads rose by 350%, suggesting that mobile users were looking for the social media platform under its old name. 

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Elon Musk’s Twitter sees revenue increase after “X” rebrand: report
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