Revenues from India have all but fizzled out for X, the former Twitter, with a 90 percent downturn in just a year.India is the company’s third-largest market in terms of sheer user numbers.
The revelation came in regulatory filings made by the social network, bought by Musk in 2022 for $44 billion. The company was already struggling at the time to make itself long-term profitable., Musk himself identified India as the third-largest market for the then-Twitter He made the comments in an earlier lawsuit he had brought to the company before he purchased it.
Seemingly to counter the plummeting revenues in the country, X also reduced its spending in India to $2.2 million from $20 million a year prior. It still managed to turn a meagre profit in the 2024 financial year ending March, making $380 000. A single plankton floating in a $44 billion ocean. Decisions like fighting against the Brazilian government, increasingly leaning towards conservative rhetoric and misinformation and disabling long-established features for users to protect themselves online have seen millions of users abandon the platform for rivals,Even on X itself, user sentiment towards the Musk-owned network is at an all-time low, with many promoting the benefits of Bluesky.