Twitter could face user exodus and flat revenue following Musk changes
Twitter could see a mass exodus of users and flat revenue if Elon Musk continues with his revamp, a new report has said.
Market research firm Insider Intelligence said staffing cuts will make it more difficult to push new products and boost engagement.
“Users will start to leave the platform next year as they grow frustrated with technical issues and the proliferation of hateful or other unsavory content,” Jasmine Enberg, principal analyst said.
The report predicted monthly users would fall to 50.5 million in 2024, the lowest level since 2014.
It comes after Musk has made major layoffs since taking the company private in October, sacking around half of its workforce.
The company also recently disbanded its “Trust and Safety Council”, which addresses hate speech, child exploitation, suicide, self-harm and other problems on the platform.
As reported by CNN and Associated Press, the social media firm said it was “reevaluating how best to bring external insights into our product and policy development work.
As part of this process, we have decided that the Trust and Safety Council is not the best structure to do this.”
Three members of the council said they would be leaving the company last week, stating “contrary to claims by Elon Musk, the safety and wellbeing of Twitter’s users are on the decline”.
In a hope to stifle rumours, the ‘Chief Twit’ reportedly sent a separate email to staff, threatening to sue workers who leaked information.
According to Platformer, workers had until 5pm on Saturday to sign a pledge agreeing not to leak and to abide by non-disclosure.
Twitter was not immediately available to comment on these reports.