X, which used to be known as Twitter, has suffered a plunge in downloads by almost 30% within two months of the rebranding.
According to a report by Apptopia, this figure marks its lowest point in over a decade.
The web version also saw a decline in traffic, with global visits down by 10% in August compared to last year.
Monthly user addition
Since 2011, X (Twitter) typically added 15 to 30 million new users monthly.
However this has now gone down to 10 million users between August and September this year.
For perspective, it saw an 18% decrease in downloads just before Elon Musk took over.
Daily, monthly active users
Coming to the matter of user retention, or the ability of the platform to keep people using it, daily active users stood at 249 million in September, a drop from 253 million in July.
Monthly active users also followed similarly, falling from 398 million to 393 million within the same time frame.
All this is clearly troubling for Musk, who had been making changes left and right in determined efforts to attract advertisers and build up revenue.
He earlier said that he wanted to hit 1 billion monthly users by 2024.
This looks difficult going by the way things are now.
Although there was a brief surge in downloads and usage following his takeover, the momentum eventually fizzled out.
Another problem Musk may not be able to rectify is the huge number of staff he fired or voluntarily quit, as Business Insider said.
His desperate attempts at attracting advertisers is not going so well either, with many choosing to avoid the platform for active promotions.