owner of twitter Elon Musk On Sunday he indicated he would make more efforts to move the social media company in a new direction with a rebranding that will replace its famous blue bird logo with an X, after admitting that advertisers have been slow to return.
The change, which was not clear on the website Sunday evening, follows Musk’s recent admission that advertising revenue has dropped by about half of what it was before. And of twitter As a result of this and because of its heavy debt load, it has become cash flow negative.
Forrester research director Mike Proulx said Sunday that the move would further alienate Twitter’s core and once fiercely loyal user base.
“On the one hand, you could argue that he’s getting rid of an iconic brand. On the other hand, he’s signaling that it’s a new day for what was once Twitter and the company is going in a different direction with a different user base.”
Billionaire Musk said in a Sunday post that he wants to change Twitter’s logo and polled his millions of followers whether they would be in favor of changing the site’s color scheme from blue to black. He posted a picture of a stylish X on a black outer space-themed background.
Change default platform color to black
— Elon Musk (@elonmusk) 23 July 2023
“And soon we’ll be saying goodbye to the Twitter brand and slowly goodbye to all the birds,” he added.
Late Sunday afternoon, Twitter’s new CEO, Linda Yacarinotweeted: “It’s an exceptionally rare thing – in life or in business – that you get a second chance to make a big impression. Twitter made a huge impact and changed the way we communicate. Now, X will go on to transform the global city square.”
During Musk’s tumultuous tenure since buying Twitter in October, the company has changed its business name to X Corp, reflecting the billionaire’s vision of building a “super app” like China’s WeChat.
In April, Twitter’s old blue bird logo was temporarily replaced by Dogecoin’s Shiba Inu dog, which helped boost the cryptocurrency’s market cap.
The company faced widespread criticism from users and marketing professionals when Musk announced earlier this month that Twitter would limit how many tweets different accounts could read per day.
Daily limits helped rival service owned by Meta Platforms threadswhich crossed 100 million sign-ups within five days of its launch on 5 July.
© Thomson Reuters 2023