Is Twitter Dying?
From the beginning, many industry experts couldn’t see Twitter becoming the success that it has become. Even today, Twitter is rated second in the social media game and experts agree that it may be on borrowed time.
With all of the success and growth Twitter has enjoyed, why are experts saying that it might not have the financial strength and strategic smarts to overcome its problems and become a thriving communication platform and profitable operation? What are the problems that Twitter is facing? Let’s take a closer look:
The Decline of Twitter
Although Twitter stock (TWTR) has gained 25% in recent months, its revenues have been steadily declining in 2017. In fact, Twitter has never turned a profit and in 2016, the platform suffered a net loss of more than $456 million. When Twitter entered the stock market in 2013, its IPO price was $26 per share. Twitter’s current stock price is $16.39 per share.
Another factor that could lead to Twitter’s demise is that user engagement is at odds with itself and with ad revenue. Most of what you see on Twitter is politically charged rhetoric, negative stories out of Hollywood and chaos from around the world. The new news story template is, “‘X’ tweeted this, and ‘Y’ responded by tweeting this.”
This has caused many Twitter users to turn away from the platform — not only because of unpleasant conversations, but also because of the endless trolling on every topic, bot-driven spam, “fake news,” and aggressive sales and marketing tweets (“noise”) from every type of business under the sun.
Is It the User’s Fault?
Twitter could fix itself, but users more than likely won’t allow it. To combat the fake news, bots and trolling, Twitter would have to censor accounts, demand that all users verify their accounts and figure out a way to determine what information is truly, objectively accurate (i.e., not fake) for 6,000 tweets per second.
Sure, Twitter isn’t the only social media platform that is having difficulties with these issues. It’s just that other platforms have the financial resources to take their time to deal with the issues that is both good for the platform and good for the user. Could we see the decline of Twitter as a social media platform, or will it be able to create a solution to its problems before that happens?
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