Future of Twitter- What are the Notable Expectations?
In later 2022, Elon Musk, the CEO of SpaceX and Tesla, completed the transaction for the Twitter platform following months of discussing, planning, and conversations. The buyout was for USD 40 billion after a series of shakeups and many countermeasures.
Following this takeover, there was lots of debate in the market about the potential future of Twitterverse following this purchase. You can find ExpressVPN’s research on the matter to know the quantitative expectations of the repercussions of this deal. But what more can you expect in the future overall?
In this post, that is what we shall cover in more detail.
The Situation- The Bare Points about The Elon Musk Twitter Purchase
After planning and deliberation, Elon Musk purchased the social media platform Twitter on October 27, 2022. This sparked a lot of controversy in the market about the future ramifications of this purchase on the brand, the digital space, and society (from the perspective of global users).
The controversy at the time gained momentum, with many users mentioning that they intended to leave the platform. A side of support was also available, hoping for updates and innovative strategies to get introduced.
The Reality of The Takeover
After Musk acquired the brand, he saw the company’s condition from an internal perspective. As per many reports, the company is under strong financial pressure due to existing debt accrued during the global economic slump that has affected the tech sectors then.
Experts note the overall debt amount Musk faced to be around USD 13 billion. This valuation includes various causes, including the Federal Reserve-centric interest rate hikes and the loss of advertisers.
Musk and his team of experts started making major changes to combat this issue. For example, he reportedly hired some of the top executives at the brand and started layoffs for around 7500 people working in the company.
Another measure that he took was monetizing the blue tick feature of Twitter. Previously, this sign beside the username of people on the platform signified them to have verified status. However, under the new regime, the badge became available for all users if they bought it after upgrading to Twitter Blue, its premium version. Naturally, this move was met with skepticism and disapproval.
The user base also did not accept the changing moderation policies on the platform and the layoffs. All of this shows a potentially harsh future for Twitter as a platform. However, with proper planning and strategy-making, it is possible to turn this situation around. Then, the company can potentially continue growing.
Future Predictions for the Platform
There are some potential future moves that experts in the field are expecting to happen with this platform. Based on the current condition of Twitter, here are what people can expect in the near future.
1. More technical problems
One of the biggest problem areas the teams at Twitter company are facing is the tech sector. Indeed, following the major layoffs, including the loss of critical officials in the company, the IT team is left directionless and potentially under heavy stress. These include professionals like data engineers and IT officials.
Moreover, due to the lack of stable cyber protection support in the current Twitterspace, cyberattacks can occur often and in high power.
2. Acquisition or merger-related strategies may occur.
It is possible that Twitter will fall under the acquisition or merger-related condition, like other platforms such as Meta. For example, Meta, previously known as Facebook, had acquired other platforms like Instagram, and Twitter is at risk of this as well.
Of course, the company will face potential benefits or issues with this acquisition or merger type of situation. However, if it comes to play in this manner, some experts are of the opinion that it will potentially benefit the company.
3. Content moderation is a problematic situation that will grow issues.
Elon Musk is a notable advocate for free speech, and he purchased the brand with the same ideal- to open the space for more unrestricted discussion. However, while the intention behind the move makes sense and is not inherently wrong, achieving the same through Twitter is impossible.
Indeed, opening the platform up for all types of speech with no content moderation breeds chaos. This gives a free pass to people or organizations to spread propaganda, misinformation, extremism, etc.
Of course, Musk did allow some preventive measures in place to fix the problem. Users have the choice to filter their feed with content types that they are okay with seeing by muting specific offensive keywords. However, this is not as strictly defined, which can cause content-control-related issues.
Another potential problem that experts in the market are seeing is the issue of bankruptcy. The platform has always relied on advertiser revenue heavily. So, when the sponsors stop contributing to the brand, that can cause bankruptcy-level issues. This type of financial issue is possible to occur and potentially cause a major financial burden for the company.
5. Premium service benefits can bring profits.
The platform will continue to provide premium-level benefits to its users. Suppose other controversies do not befall the company, and the transition period after the buyout continues stably going forward. In that case, the premium-level service offerings for Twitter can cause high profits in the long term.
Currently, it is relatively fresh in the transition period. Later, the innovative plans and strategies by Musk and his team in the future can help navigate the company better. The premium features, for example, could benefit and interest the changing interest points of consumers. So, if they accept the new premium offerings, it is possible to increase the user base.
Twitter has seen many changes after the takeover in late 2022, and the future does not seem overly positive if controversies continue. However, new innovative plans or a clearer structure for the future endeavors of the platform can turn it around.
Twitter is expected to stay prominently in the market for many more years as there is no other major competitor with the same or better functions yet. Thus, it is still not a certainty how the future will progress for the company or make sure-fire predictions at this point.
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