On Friday, Elon Musk revealed that the monthly user count of the social media platform X, formerly recognised as Twitter, has reached a “record high.” He further shared a graph displaying the latest figure, which surpassed 540 million users.
Musk made the user statistics post on X as the firm underwent organisational changes and sought to increase advertising revenue, which had decreased in the previous month.
It is also the most recent in a string of statements made by X executives asserting significant usage after Meta Platforms introduced Threads, a platform that directly competes with X, on July 5.
In May 2022, Twitter had 229 million active monthly users, according to a statement made prior to Musk’s acquisition of the company in October. According to a post by Musk from November, X has 259.4 million daily active users.
Since taking control, Musk has made a number of quick organisational and product adjustments. The business launched the verified blue tick as a premium service and has begun paying a portion of ad revenue to a select group of platform content producers.
Musk appointed Linda Yaccarino, the former head of advertising at NBCUniversal, as CEO of X in May, indicating that ad sales were a priority even as the platform pushed to boost subscription revenue.
Musk stated earlier this month, without providing further information, that X’s cash flow was negative due to a nearly 50% decline in advertising revenue and a high debt load.
Musk’s decision to redesign Twitter as X, though, may provide legal challenges because firms like Microsoft and Meta already hold intellectual property rights to the same letter.
X is a candidate for legal issues due to how frequently it is used and quoted in trademarks. Future brand defence issues may possibly arise for the company formerly known as Twitter.
There are around 900 current U.S. trademark registrations that already cover the letter X in a number of industries, according to trademark attorney Josh Gerben, who asserts that Twitter will almost certainly be sued over this.
Trademark holders who protect things like brand names, logos, and slogans that identify suppliers of goods may claim infringement if rival branding could cause confusion among customers. You can seek remedies by suing for money damages or by forbidding use.
Microsoft has had only rights to use the X trademark in connection with communications relating to its Xbox video-game console since 2003. The blue-and-white letter “X” is a federally registered trademark of Meta Platforms, whose Threads platform is a brand-new Twitter competitor. The trademark, which includes sectors like software and social media, was registered in 2019.
Gerben claims that unless Twitter’s X has breached their brand equity, Meta and Microsoft are not likely to initiate a lawsuit.
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