Elon Musk continues to face difficulties in increasing revenue from paid subscriptions on platform “X.” Despite ambitious plans to develop the service, the company faces a number of challenges, including low user engagement and scale challenges.
Oku.Az it is reported with reference to Gazeta.ru.
According to the latest report, “X”‘s subscription revenue in the third quarter of 2024 was only $10 million, well below expectations. This worries investors and analysts who expect at least $50 million in revenue. Experts point out that one of the reasons for this may be an insufficient marketing strategy and competition with other social platforms.
Although Musk has previously announced plans to make X a platform with a billion user base, these ambitions have yet to materialize. Instead, the company faces a series of technical problems and user dissatisfaction, which negatively affects its reputation. Additionally, Musk hoped that the paid subscription would indirectly allow X to become independent from advertisers who dictate content moderation rules.
Amid these challenges, investors and analysts are urging Musk to rethink X’s growth strategy and find new ways to attract users and increase subscription revenue. Otherwise, the future of the platform could be in jeopardy, especially considering that the company has already spent more than $100 million developing “X” without achieving significant results.
