According to new data obtained by Axios on Thursday, X, formerly known as Twitter, has lost a significant number of users and advertisers during its first year under Elon Musk. Mobile app downloads dropped about 38 percent worldwide and 57 percent in the U.S. between October 2022 and September 2023, and the average time spent daily per user fell 2 percent worldwide in the third quarter of 2023, based on estimates from Sensor Tower, which provides App Store Optimization data. Website usage has also fallen, with the number of monthly active users decreasing by 14.8 percent worldwide and 17.8 percent in the U.S., according to SimilarWeb. As for advertisers, Musk said last month that X’s ad sales were down 60 perent. Insider Intelligence claimed that 2023 ads will make $2.9 billion, a sharp decline from $4.14 billion in 2022. This data comes after X CEO Linda Yaccarino stated that companies were returning to the social media platform, which had “half a billion users all over the world showing up multiple times a day.”