Elon Musk's X platform has suffered from a slowdown in the number of users. This is reported by the Financial Times.
This state of affairs is attributed to the fact that the social network owner is causing disagreements among the audience and is dealing with competition from Meta's growing Threads platform.
It is estimated that in the second quarter of this year, the number of daily active users of X amounted to 251 million. This is a 1.6% increase compared to the same period last year.
Despite the growth, this figure is in stark contrast to the double-digit increase seen in the years before Elon Musk acquired the company. The billionaire bought the social network for $44 billion in 2022, and later changed its name from Twitter to X as part of a rebranding effort.
However, this is not the only thing that has changed on the social network after it was taken over by the businessman. It soon lost advertisers, in part due to Elon Musk's position as an "absolutist of freedom of speech" and the decision to remove most of the platform's content moderators.
Critics argue that this has led to a more toxic experience. But the platform's owner says "decisive action" was necessary to stem the growing financial losses.
As for Threads, it is now actively used by 175 million people a month. X currently has 600 million users.
Recently, it has also become known that a new application is conquering the App Store. We are talking about a social network called noplace, which has hit the top digital distribution platforms. It resembles a modern version of the once-popular Myspace and can become an alternative for users of the X platform.