The year 2022 witnessed sweeping changes in the realm of technology. Billionaire Elon Musk’s dramatic takeover of Twitter seems to be one of the biggest developments in terms of social media.
After the USD 44 billion takeover, the micro-blogging platform has witnessed some major upheavals. Musk fired nearly half of the Twitter staff and introduced a slew of measures to enhance Twitter’s revenue streams. His takeover also witnessed several users departing from the famous social media platform.
Now, it seems there is more trouble brewing for the billionaire. Prominent market research agency – Insider Intelligence, has predicted that over 30 million users are expected to leave Twitter in the next two years. The agency has cited that the mass exodus is likely to be due to technical issues and the proliferation of hateful or offensive content.
The agency has predicted that the number of monthly users will fall by around 4 per cent in 2023 and 5 per cent in 2024 amounting to a whopping 32 million. Insider Intelligence which has been tracking Twitter since 2008 has released its first annual declines forecast. According to principal analyst Jasmine Enberg, there will be several catastrophic events that will culminate in Twitter’s doom. Enberg told The Guardian that users will begin leaving the platform next year as they are lik ..
The agency said that reduced staff working full-throttle will not be able to solve Twitter issues related to infrastructure and content moderation. The report has predicted that Twitter will lose more users in the US which also happens to be the company’s biggest market. The US is expected to lose 8.2 million users, while the UK is expected to see a decline of 1.6 million users.
According to the report, the departing users will hail from all age groups. The agency has also stated that the platform will witness a decrease in ad revenue by 16 per cent in 2024.
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