Elon Musk's Risky Twitter Rebranding Is Tanking X's Rank And Downloads In App Store And Play Store
Portfolio Pulse from Rounak Jain
Elon Musk's rebranding of Twitter to X has led to a significant drop in the app's ranking and downloads on Apple Inc.'s App Store and Alphabet Inc.'s Google Play Store. The app's rank fell from 24th to 64th on the App Store following the rebranding announcement. The decision to replace the Twitter bird with an 'X' may have further worsened the situation.
August 21, 2023 | 9:21 am
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NEUTRAL IMPACT
Apple's App Store has seen a significant drop in downloads of the rebranded Twitter app, X.
While the rebranding of Twitter to X has led to a drop in downloads on Apple's App Store, it's unlikely to have a significant impact on Apple's overall revenue as the App Store hosts millions of other apps.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Google's Play Store has seen a significant drop in downloads of the rebranded Twitter app, X.
While the rebranding of Twitter to X has led to a drop in downloads on Google's Play Store, it's unlikely to have a significant impact on Google's overall revenue as the Play Store hosts millions of other apps.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Alphabet's Google Play Store has seen a significant drop in downloads of the rebranded Twitter app, X.
While the rebranding of Twitter to X has led to a drop in downloads on Alphabet's Google Play Store, it's unlikely to have a significant impact on Alphabet's overall revenue as the Play Store hosts millions of other apps.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Despite losing nearly 75% of its daily active users in the US, Meta Platforms Inc.'s Threads is ranking higher than the rebranded Twitter app, X.
While Meta's Threads has lost a significant number of users, it's still ranking higher than the rebranded Twitter app, X. However, it's unclear how this will impact Meta's overall performance.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50