While Twitter may be shedding virtue-signaling advertisers (who totally weren’t looking for any reason to trim their ad budgets), daily user growth during the company’s first full week under Elon Musk has hit ‘all-time highs,’ according to an internal document seen by The Verge.
According to an internal FAQ given to the company’s sales team for use in conversations with advertisers, Twitter’s monetizable daily user (mDAU) has jumped to more than 20%, while “Twitter’s largest market, the US, is growing even more quickly.”
The company has added more than 15 million mDAUs, “crossing the quarter billion mark” since the end of Q2, when it stopped reporting financials as a public company.
If those numbers are in line with how Twitter reported metrics when it was public, they imply that the service has yet to see a mass exodus under Musk’s ownership. He tweeted on Sunday that, since his deal to buy Twitter was announced, “user numbers have increased significantly around the world.” Twitter last reported 237.8 million mDAUs and a 16.6 percent yearly growth rate for the second quarter.
While users may not be fleeing Twitter en masse, advertisers are. In another tweet on Friday, Musk said the company has seen “a massive drop in revenue” due to “activist groups pressuring advertisers.” Reports of a sharp spike in racist and hateful tweets after his takeover initially spooked advertisers, though Twitter said afterward that the influx was due to coordinated “trolling campaigns.” The FAQ for advertisers on Monday says that “levels of hate speech remain within historical norms, representing 0.25% to 0.45% of tweets per day among hundreds of millions.” -The Verge
Advertisers are reportedly scratching their heads over who to voice complaints with since the resignation of top advertising exec, Sara Personette.
The FAQ was distributed by 10-year company veteran Alex Josephson, VP of Twitter Next – an internal team tasked with helping brands create campaigns on the social network since 2019. According to Josephson’s post to the sales team, 25% of the organization was affected by last Friday’s mass layoffs, and that “the decision to scale back our presence in select geographies contributed significantly to the sales reductions.”
Meanwhile, the FAQ addresses the upcoming revamp of the Twitter Blue subscription service which introduces paid verification – saying it will “not affect existing verified accounts at this time,” and that “large brand advertisers who are already verified will now have an additional ‘Official’ label beneath their name upon Twitter Blue’s relaunch this week.”
Musk was reportedly tossing around a $19.99 monthly price point for blue checks, however after far-left author Stephen King threw a Twitter tantrum, Musk lowered the price to $8 per month – which he’s been tormenting
We need to pay the bills somehow! Twitter cannot rely entirely on advertisers. How about $8?
— Elon Musk (@elonmusk) November 1, 2022