February 3, 2023

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Twitter CEO Musk says user logins are at all-time high and touts features of Reuters’ Everything App

©Reuters. FILE PHOTO: An image of Elon Musk is seen holding a smartphone placed over printed Twitter logos in this image illustration taken on April 28, 2022. REUTERS/Dado Ruvic/Illustration//File Photo

(Reuters) – Twitter Inc (NYSE:) chief executive Elon Musk has said new user signups to the social media platform are at an “all-time high” as he grapples with a mass exodus of advertisers and users who flee to other platforms about concerns about the review and

hate speech.

For the past seven days beginning Nov. 16, signups averaged over two million per day, up 66% from the same week in 2021, Musk said in a tweet late Saturday.

He also said that user active minutes hit a record high averaging nearly 8 billion daily active minutes for the past seven days as of Nov. 15, a 30% increase compared to the same week last year.

Hate speech imitations decreased on November 13 compared to October last year.

Reported impersonations on the platform increased before and after the launch of Twitter Blue earlier this month, according to Musk.

Musk, who also runs rocket company SpaceX, brain chip startup Neuralink and tunneling company The Boring Company, has said buying Twitter would accelerate his ambitions to create an “everything app” called X.

According to the tweet, Musk’s “Twitter 2.0 The Everything App” will have features like encrypted direct messages (DMs), long-form tweets, and payments.

Advertisers on Twitter, including major companies such as General Motors (NYSE:), Mondelez (NASDAQ:) International, Volkswagen AG (OTC:), have suspended advertising on the platform as they grapple with the new boss.

Musk said that Twitter has seen a “massive drop in revenue” from advertiser pullbacks, blaming a coalition of civil rights groups for urging the platform’s top advertisers to act when he failed to protect content moderation.

Activists are calling on Twitter’s advertisers to make statements about removing their ads from the social media platform after Musk lifted former US President Donald Trump’s tweet ban.

Hundreds of Twitter employees are believed to have left the ailing company after an ultimatum from Musk that employees log in for “long hours of high intensity” or leave.

The company laid off half of its workforce in early November, gutting teams responsible for communications, content curation, human rights and machine learning ethics, as well as some product and development teams.