In April, before launching his long-winded $44 billion takeover bid, Elon Musk posed the question: ‘Is Twitter dying?’
He may have been on the money, as new internal documents show that the social media platform has had an ‘absolute decline’ in users since the pandemic.
The report, obtained by Reuters, reveals ‘heavy tweeters’ make up less than 10 percent of the site’s monthly users, but generate 90 percent of all the content and half of the company’s revenue.
It’s dying. So is META.
A Social Media Status Update – Top social media apps are struggling after a decade of dominance.
For years, most of the conversation about social media companies was about how powerful and dominant they were.
These days? Not so much.
The tech industry has had a rough year, and social media companies have been hit especially hard. The stock price of Meta (formerly known as Facebook) has plummeted more than 60 percent. Snap, the maker of Snapchat, has fallen more than 80 percent. Layoffs and hiring freezes are common, and some companies have begun cutting their famously cushy employee perks.
