July's numbers are in, and it's time for my monthly check-in on X's revenue performance.
The good news is that revenue didn't drop! It also didn't really grow, but I can see why.
Let's start at the beginning, with the numbers. According to Appfigures Intelligence, X earned $16.9M in net revenue in July. The most since revenue slumped in May.
A combination of rising subscription costs, Grok having its own app with its own in-app purchases, and a steep decrease in downloads from Google Play is making it very hard for X to grow its revenue.
Our estimates show that downloads from Google Play are down nearly 50% year-over-year, losing the service millions of potential paying users, and it shows.
I'm not sure exactly where the users are going, though, because X's rivals are not growing nearly at that rate. For comparison, Bluesky saw just 119K downloads from Google Play in July, according to our estimates.
The folks at X did notice and are working on it, so I think that trend will reverse very soon.
I'm keeping an eye out for the results.
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