Shulou(Shulou.com)11/24 Report--

According to a report released by market research firm Insider Intelligence on Tuesday, local time, social media platform Twitter will lose 30 million users within two years and revenue growth will be flat after many changes made by its new boss, Elon Musk.

After Tuyuan Unsplash fired about half of its Twitter employees, including those involved in content censorship, experts and users have been worried about its ability to crack down on false information.

Insider Intelligence said in a report that it has been tracking Twitter users since 2008 and expects its global monthly active users to fall by nearly 4% next year and 5% in 2024, totaling more than 32 million.

The report also estimates that Twitter has lost more users in the United States, the largest market, than in any other country tracked by Insider Intelligence, and will lose 8.2 million over the next two years. By the end of 2024, the number of US users is expected to fall to 50.5 million, the lowest level since 2014, as Twitter becomes "more unstable and less pleasant". Insider Intelligence also said that in the UK, the number of Twitter users will decline by about 1.6 million in the next two years, and the current number is 12.6 million.

The company predicts that while disappointed users of all ages will leave Twitter, the largest number will be those under 25 and over 45, who are "less loyal and less willing to tolerate humiliating experiences".

"it is unlikely that a catastrophic event will end Twitter, but users will start leaving Twitter next year because they are frustrated by technical issues and the rapid increase in hate speech or other unpleasant content," said Jasmine Enberg, chief analyst at Insider Intelligence. "even if Twitter's backbone employees work around the clock, they will not be able to offset the platform's infrastructure and content review problems."

Insider Intelligence also cut its forecast for Twitter advertising revenue growth to "basically flat" from 22 per cent in 2023 and 16 per cent in 2024 as advertisers withdrew, suspended or permanently stopped advertising because of growing concerns about the brand safety of the platform. In addition, the loss of income and personnel makes it harder for Musk to launch new products and to increase the utilization and participation of the platform.

Musk attributed Twitter's "sharp drop in revenue" last month to pressure from civil rights groups to suspend advertising on Twitter. About 90% of the social media company's revenue comes from advertising. In November, the research company cut Twitter's advertising revenue growth forecast for this year by 40%.

On Monday, local time, Twitter abruptly disbanded its Trust and Security Committee, an advisory team of nearly 100 independent citizens, human rights and other organizations. The committee was established in 2016 to address hate speech, child exploitation, suicide, self-harm and other problems on Twitter. Mr Musk has laid off thousands of employees and told those who stay that they must support "long, intense" work.

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