Elon Musk announced Friday on X that monthly users of social media site X, formerly known as Twitter, had reached a “new high,” and he released a graph showing the most recent figure of over 540 million.

According to Reuters, it is also the latest in a series of comments from X executives claiming great usage traction following the July 5 introduction of a direct competitor platform dubbed Threads by Meta Platforms.

Musk stated earlier this month that X’s cash flow was negative due to a nearly 50% decline in advertising revenue and a high debt load.

Musk has made a lot of product and organizational changes since taking charge. The company launched the verified blue tick as a premium service and began sharing a portion of ad sales with select platform content creators.


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