Regardless of dropping tens of millions of customers to different apps, regardless of dropping tens of millions of {dollars} in advert income, and regardless of struggling to construct its slate of unique video programming. Regardless of all of this, X continues to inform us that all the things’s all good, and in reality, higher than ever, because it seeks to rebrand and remarket the previous hen app.
This week, X has as soon as once more touted its nice success all through 2024, regardless of, once more, many, many indicators suggesting that the platform is on monitor to put up a major monetary loss for the 12 months.
As per X:
“X has not simply developed: it has reworked right into a powerhouse of engagement and significant conversations. In consequence, the advertisers that returned in 2024 are exhibiting indicators that they’re right here for the lengthy haul!”
I don’t even understand how an advertiser would present indicators that they’re in for the lengthy haul, however X has shared some new information factors and insights which it claims present that it’s certainly heading in the right direction.
First off, X says that video views are means up this 12 months, a stat that its shared beforehand.
“UAS” is person lively seconds, which is a questionable stat we’ve beforehand explored in additional depth.
X additionally says that its gaining traction with Gen Z customers, which “displays the progress we’ve made in constructing long-term success for X, delivering content material, neighborhood and improvements that cater to this new wave of shoppers.”
However this chart:
Doesn’t actually make numerous sense with none additional context or reference to the supply. Is that this saying that Gen Z customers who use X daily log into these different apps at these charges? In that case, then that’s not likely a lot of an endorsement of something, and if the declare is that every one customers of all of those different apps additionally log into X daily, there’s no means that’s true, as a result of X’s day by day lively utilization is considerably decrease than a number of of those apps.
X additionally claims to have launched a heap of “game-changing” improvements his 12 months:
Which is one other complicated declare that X has repeatedly made, that its innovating at some stupendous price, and breaking trade norms with its releases. However it’s not likely. X, as a platform, stays basically the identical because it was when it was known as Twitter, and none of those updates, exterior of Neighborhood Notes, is considerably totally different than what different apps have launched first.
And Neighborhood Notes was already part of Twitter, so its not like its new. And whereas X is eager to speak up its change in method, and fast innovation, I don’t see any important advances within the app. And clearly, provided that it continues to lose customers, others don’t both.
X has additionally praised its unique content material push:
“With unique content material as one among our key drivers, we raised the bar this 12 months by means of our Originals on X sequence. The mission is evident: we’re creating long-term worth attracting new customers to expertise unique content material solely right here. Tasks like The Offseason, the All In Boston Celtics docuseries and collaborations with cultural icons like Jim Rome captured audiences and drove deeper engagement throughout the platform, proving that storytelling on X was an enormous hit in 2024.”
I believe X was holping that Linda Yaccarino’s expertise and connections, based mostly on her years of working NBCUniversal, would yield a slate of latest programming for the app, however to this point, the outcomes have been fairly disappointing. X has signed content material offers with Paris Hilton, a lesser Kardashian, The Large 3, and a number of other proper wing commentators who had beforehand been solid off by mainstream retailers. And the end result has been just a few exhibits.
Possibly X will be capable to ramp up its unique programming efforts in 2024, however 5 unique originals, for a component that’s a “key driver”, doesn’t appear all that spectacular.
X has additionally shared a list of probably the most engaged “gold verified manufacturers”:
Gold verified being the manufacturers which might be paying high greenback to make use of the app, by way of X’s verification program.
Oh wow, SpaceX, you don’t say.
X has additionally shared a list of probably the most mentioned subjects within the app:
Sports activities stays X’s saving grace, with so many sports activities followers now habitually aligned with the app for maintaining with the newest information, and monitoring feedback whereas watching dwell occasions. With out that, X could be in deep trouble, however once more, X is re-framing its struggles as success.
Although I suppose, what else is it speculated to do.
Look, regardless of my clear cynicism, X is a relative success. The truth that the platform has culled 80% of its employees, and it hasn’t collapsed outright is critical, irrespective of the way you have a look at it, whereas it additionally claims to have greater than 570 million customers, which is a big viewers. And regardless of new challengers, X stays a vital connector for a lot of communities, and that, in itself, is of worth to many manufacturers and advertisers around the globe.
X is, in relative phrases, doing okay contemplating, though it’s on monitor to put up a loss this 12 months, and I do get that it has to border all the things in sunny motifs. However it’s overly optimistic, and infrequently false claims additionally don’t do a lot to imbue belief and religion within the app.
Primarily, X is amplifying claims that aren’t true, or are blatantly selective. That’s to not say that it must acknowledge each unfavorable, however for a platform that regularly criticizes each different outlet as selling faux information, this does appear to be a flaw in its personal comms plan.
As a result of each time it makes one among these claims, it makes you query all of its different information factors.
However I do get it, and I do additionally assume that there will probably be alternative for manufacturers in X in 2025, if that’s the place your viewers is participating.
If X stays in enterprise, that’s (although I believe it is going to).
