X ran a Black Friday promotion, something I haven't seen any other social platforms do, and I was sure it would not move the needle much because who's really waiting for a discount on something like X?
Turns out a lot of people did.
I've checked in on X's revenue every month since Twitter Blue came out but this check in is by far the biggest!
Appfigures estimates put X's net revenue in November at $16.5M. That's what Elon gets to keep after giving Apple and Google their share. That's the biggest month of revenue for the platform and 27% higher than October, which was its biggest month prior.
Given Elon's involvement in the elections, you might think the increase in revenue is related - and to some extent it is - but for the most part, the new revenue came around Black Friday.
Our App Intelligence shows that weekly net revenue during election week was twice as high as the average weekly net revenue in February. But that's not the big spike!
The bigger spikes in revenue came in the week of Black Friday and Cyber Monday with the latter setting an all-time record for the app. We estimate that those two weeks earned the platform a smidge more than $12M - and that's net revenue which doesn't include Apple's and Google's share.
Although the campaign is over, revenue hasn't dropped to where it was pre-promotion. It's lower, around $700K/day, but still nearly double what it was before, according to our estimates.
I expect to see rivals do the same next year.
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