Bye bye birdie...
Twitter is now X and I can feel the difference. But that won't stop me from continuing the monthly tradition of checking in on X's revenue.
The last couple of months were not great for X, having seen revenue go down for the first time since Elon took over.
July was different.
Twitter's mobile apps brought in $4.9M of net revenue in July, according to our estimates. That's the combined total from the App Store and Google Play and is what Elon gets to keep after giving Apple and Google their fees.
It's also the app's biggest month of revenue, growing 9% from the app's previous peak back in April.
And also the first month of growth after two months of decline -- back to back.
After growing steadily every month this year and peaking at $4.5M of net revenue in April, Twitter's revenue declined sharply in May and June. Our estimates show May's revenue dropped 20% to $3.6M and in June revenue dropped even lower, to just $3.3M.
Subscriptions are certainly responsible for some of this but I don't think they're growing at the rate Elon and co wanted or expected. That's why he's now sharing ad revenue with popular users.
But the real question isn't whether subscriptions are working but rather, will things be different now that Twitter is no more and it's all X?
We'll see next month.
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