Tech giant X may have had a rough end to 2023 but a new year means a new beginning and the company is unveiling big plans for the year.
The news comes after the firm just rolled out a roadmap overview of what it plans to do in 2024 and that includes some very interesting insights about Elon Musk’s ‘everything app’ that has been talked about a lot.
The overview comprises all kinds of notes regarding developments carried out last year and how the stage has been set for a successful 2024 through the Everything App strategy.
This in itself seems to be a challenge on its own but the confidence with which Elon Musk and his team plan to take this forward must be commended. Remember, the company has been facing a decline in revenue, not to mention a slow development pace, and a small list of resources available for use.
Whatever the case may be, this is the general outline delineated so far. And we’re unveiling the findings for you below.
For starters, the company spoke about how more than 80% of all sessions for users include videos and more than 100 million of them utilize the full-screen vertical layout design on the app each day.
Next, X mentioned how just last month, people saw videos that were the equivalent of 130 years of videos that were 30 minutes or greater than that. Meanwhile, the Community Notes in itself got a staggering 50 million views per day which was an average estimate.
On the other hand, we saw how close to 350k communities on the app had nearly 650k posts published each day. And they ended up paying 80k content creators on the app via its famous ads revenue sharing initiative.
In the same manner, X saw a 22% rise in overall advertising engagements and that is some serious news considering how it really struggled when 50% of its advertisers opted to pause marketing on the app due to tech entrepreneur Elon Musk’s controversial stance and list of changes across the platform.
This is what the app seems to be claiming right now but it would not be wrong to say that the credibility of these results is not high because both the CEO and company’s head have made massive claims before that not a lot of people agreed with.
No matter what, this is the spot where X stands today. It’s 2024 and X mentioned how its goal right now is to work on developments so that it can further enhance a transition from the old Twitter app, coming out as one of its own.
So what can users look forward to this year?
X hopes to add new payment options on its platform and assist with fund transfers that can be done at lost costs through the X channel. This idea is from Musk who once worked at PayPal and that is how he came up with the idea in the first place. Hence, users can consider the platform like a bank where peer-to-peer payments can give rise to more commerce opportunities and display users’ living power.
We are not too sure about how that would work out or how the response from users is going to be but the latest developments indicate that the company did get a green signal in the form of licenses from 14 different states. But it’s just a start with a lot more challenges to go. Did we mention how regulators still need to approve of this feature and that alone would never come easy.
Remember, tech giant Meta is yet to get a similar kind of nod of approval needed for full payments across different parts of the world. Whatever the case may be, Musk claims he has the skill and expertise that could give rise to this. Therefore, the future seems to be full of optimism but only time can tell.
In other plans, X hopes to bring about massive enhancements of old features through the use of groundbreaking AI technology. This includes using AI solutions to better advertising campaigns, carry out searches, and others.
The company is already in the chatbot race via the unveiling of its Grok which is based on X chats. Other than that, we see the company giving rise to major enhancements on the system depending on AI technology where the latter can customize and better the entire user experience. This might entail more ways to ensure users see content that is more in line with their likes and interests.
X Corp also shed light on how it is working on bettering its stance as a video-first app and that means saying hello to content that would be classified as more original. It plans to do this through greater investments in new deals carried out with ex-television stars. Meanwhile, we saw how Twitter also tried this approach in the past but it would not be wrong to mention that the plan was aborted as it didn’t get the success that the company had once hoped for.
But we can see where Musk is coming from as X is a leading companion platform for discussions carried out on live television. So merging both of these components might be a fruitful and smart decision.
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