In a recent post on the social media platform X, CEO Linda Yaccarino revealed that more than 10 million people signed up for the service in December. The disclosure comes at a critical time for the company, formerly known as Twitter, as it faces potential losses of up to $75 million in advertising revenue by the end of the year. Major brands, including Apple, Disney, Warner Bros Discovery, Comcast, Lions Gate Entertainment, Paramount Global, and IBM, suspended their advertising on X in November.
More than 10 million people have signed up for X so far this December! pic.twitter.com/sW8cN2xM0Y— Linda Yaccarino (@lindayaX) December 8, 2023
X, which typically doesn’t regularly release user data, has not provided details on how the December sign-ups compare to the platform’s average. The disclosure by Yaccarino raises questions about the motivation behind sharing this particular figure. Elon Musk mentioned in July that the platform had 540 million monthly users.
The advertising exodus from X began when Musk agreed with a user’s false claim that Jewish people were fostering hatred against white people. This led several prominent companies to halt their ad campaigns on the platform. Musk responded by expressing dissatisfaction with the advertisers who abandoned X.
Amidst these challenges, X filed a lawsuit against Media Matters in late November, accusing it of defamation. Media Matters had published a report highlighting advertisements from major companies appearing alongside X posts that supported Nazism. The platform’s legal action adds another layer of complexity to its ongoing efforts to address content-related controversies and attract advertisers back to the platform.