Twitter's UK subsidiary reported revenue of $39.8 million for the year ending December 31, 2024, down from $95.2 million in 2023, according to Fortune reporting on UK Companies House filings. ¹ This 58% annual decline followed an already severe 66% drop in 2023 from $282.9 million in 2022, meaning UK revenue fell 86% over two years. ²

The UK figures represent the only verified regulatory disclosures available for Twitter/X since the company went private following Musk's October 2022 acquisition. ² Fortune reported that global ad revenue fell from $4.5 billion in 2022 to $2.2 billion in 2023, a 46% decline, though this figure comes from a single source without independent corroboration. ¹

Open: Twitter/X's actual global revenue for 2024, due to conflicting reports that cannot be reconciled without access to the company's financial disclosures, which reflects that X has been privately held since the October 2022 acquisition and is not required to make the global disclosures that public companies file; Whether the 86% UK revenue decline over two years is representative of global performance or reflects region-specific factors

Sources disagree on Twitter/X's 2024 global revenue trajectory. According to Investing.com, total 2024 revenue was approximately $2.5 billion, down 13.7% from 2023, with ad revenue of $3.14 billion representing a 5.1% decrease. However, Stocktwits reported that Q3 2024 revenue reached $752 million, up more than 17% year-over-year, with nine-month revenue through September 30 topping $2 billion.

These figures appear contradictory, though the discrepancy may reflect different revenue categories (ad-only versus total) or differing methodologies that available sources do not clarify: if nine-month revenue exceeded $2 billion and Q3 alone was $752 million, full-year 2024 revenue would substantially exceed the $2.5 billion total cited by Investing.com. Stocktwits also reported Q3 2024 EBITDA rose 16% to roughly $454 million despite a $577.4 million net loss. Available sources do not provide Twitter/X's actual financial disclosures to resolve the discrepancy.

Open: Twitter/X's actual global revenue for 2024, due to conflicting reports that cannot be reconciled without access to the company's financial disclosures, which reflects that X has been privately held since the October 2022 acquisition and is not required to make the global disclosures that public companies file; Whether the 86% UK revenue decline over two years is representative of global performance or reflects region-specific factors

Dozens of major brands paused advertising on Twitter in November and December 2022, including Apple, Audi, Balenciaga, General Motors, Pfizer, Volkswagen Group, Allianz, and Macy's, according to Marketing-Interactive. ¹ The brands cited brand safety and content moderation concerns as reasons for the pause. ²

The Guardian reported that Apple had been spending as much as $100 million per year on Twitter as of November 2022. ¹ A second wave of departures occurred in November 2023 when IBM, Disney, Lionsgate, Warner Bros, Paramount, and Comcast/NBCUniversal suspended advertising after a Media Matters report said ads appeared alongside pro-Nazi content. ² X disputed the report; no X statement on the report's methodology was available in the sources reviewed for this article.

At the November 29, 2023 DealBook Summit, Elon Musk responded to the advertiser pullbacks by telling them 'Go f--- yourself' and specifically singled out Disney CEO Bob Iger, according to CNBC. ¹ Musk called the pullbacks 'blackmail' while acknowledging that losing advertising revenue could mean the platform's downfall. ¹

The sources reviewed do not document whether any of the advertisers who paused in 2022 or 2023 subsequently resumed spending, nor what total advertising spend was in 2024. ² Whether the exodus was permanent or partial is unknown.

Business Insider reported, citing SimilarWeb, that US mobile app use was 17.8% lower year-over-year as of October 2023. ¹ Traffic to twitter.com was 11.6% lower in the US and 7% lower globally year-over-year during the same period. ² According to Sensor Tower data cited by Business Insider, app downloads declined 38% worldwide and 57% in the US between October 2022 and September 2023. ¹ These are the most recent verified third-party engagement figures available; no comparable engagement data covering 2024 was available in the sources reviewed, and their absence does not by itself indicate continued decline.

BankMyCell reported that Twitter/X had 335.70 million users in 2024, representing a 5.14% decrease from 2023 and an 8.87% decline from a 2022 peak of 368.4 million. ¹ WebsitePlanet reported that US daily users declined from 32.3 million to 29.6 million by October 2024, an 8.4% drop, and that the UK saw one-third of daily active users leave. ¹ EU users decreased from 112.2 million to 105.9 million by mid-2024, according to WebsitePlanet. ¹

Twitter's last official user metric before going private was 237.8 million monetizable daily active users (mDAU) in Q2 2022. ² The company has not released official user figures since the acquisition.

X has publicly prioritized removing bot, spam, and inactive accounts, which could account for some portion of reported user-count declines, though no source quantifies this effect.

Open: User engagement trends after October 2023, as the most recent verified third-party analytics data available is 15 months old; Whether the 86% UK revenue decline over two years is representative of global performance or reflects region-specific factors

According to Tweet Hunter, Musk relaunched Twitter Blue in November 2022 at $8 per month with verification included, up from the original $2.99 monthly subscription launched in June 2021. ¹ A three-tier subscription system comprising Basic, Premium, and Premium+ was introduced in October 2023, according to Tweet Hunter. ¹

Wikipedia reports that legacy verified checkmarks began being removed on April 20, 2023, after Twitter announced removal would occur April 1. ¹ The new verification system requires an $8 per month Twitter Blue subscription regardless of notability, with exceptions for the top 500 advertisers and 10,000 most-followed organizations. ²

TechCrunch reported that X launched an Ad Revenue Sharing program globally in July 2023, aiming to distribute $5 million in the first round. ³ Eligibility required verified status, 15 million impressions in 90 days, and 500+ followers.

Available sources describe these subscription and revenue-sharing programs but do not quantify their contribution to total revenue, so their financial effect is unknown. ²

Open: Subscription revenue contribution to total revenue, as sources describe the programs but do not quantify their financial impact

According to Aura, over 6,000 Twitter employees were laid off, reducing the workforce from around 8,000 to approximately 1,500 by April 2023, representing roughly an 80% reduction. ¹ Aura reported that Elon Musk cited $3 billion in negative cash flow as the reason for the mass layoffs. ¹ The same source reported that X's workforce grew to 2,840 employees by September 2024. ¹