In spite of a loss of advertising dollars that will result in a “massive drop in revenue,” billionaire Elon Musk says his latest purchase, social media app Twitter, is registering all-time high sign-up rates.
Musk, via a tweet naturally, reported that the week ending November 16 saw an average of 2 million new sign-ups each day, a 66% increase over the comparable week in 2021.
The company’s owner also said Twitter was seeing an all-time high in active user minutes and the daily active user count was approaching 254 million.
"I think I see a path to Twitter exceeding a billion monthly users in 12 to 18 months," Musk tweeted at author Jordan Peterson, whose suspended account Musk reinstated.
As for the advertiser exodus, Musk blamed it on pressure from “activist groups” intimidating possible sponsors of the social media platform.
In response to those groups, the "Chief Twit" (as Musk refers to himself) said that hate speech impressions were lower year-to-year for the week ending November 16 over 2021.