X Saw the Highest Recorded Revenue in July 2024 After Being in Constant Decline

X’s revenue has been declining for several months after seeing some growth in March 2024. But July was the month when X set a new record in its revenue According to the estimates by App Figures, users spent $12.7 million on X (formerly Twitter). Out of $12.7 million, Elon took $8.9 million and some went to Apple and Google fees.

Most of the revenue was recorded on the App Store. 77% of the revenue was acquired on the App Store while Google Play contributed the rest of the revenue. The country which made X earn the most revenue was the USA. Japan was the country with the second most revenue from X and it was surprising to see that it doesn't happen often.

July’s revenue makes 20% month-over-month growth of X, which is a great growth after the continuous decline X was seeing. There was also an 8% increase from X’s all time high revenue in March 2024, and a 424% increase from January 2023. This means X is on the road to do better in terms of revenue. It can still achieve more growth if X figures out how to manage the app according to users’ preferences.

Looking at the bigger picture: Snapchat saw the highest growth in revenue at $32 million and Instagram at $23 million after monetizing their apps. They also started monetizing much later than X but are performing way better compared to X. The point to be noted is that these apps earned that revenue after excluding the store fees. Telegram is also on its way to beat X with $7.4 million revenue recorded in July 2024. So what's X doing wrong that is making it harder for the app to earn high revenues? It all comes down to the new features and updates that users aren't liking that much.

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by Arooj Ahmed via Digital Information World