X’s 600M MAU and Its Implications for the Future of Social Media Monetization

In the ever-evolving landscape of social media, X (formerly Twitter) stands at a crossroads. As of September 2025, the platform reported 586 million monthly active users (MAU), a decline from 611 million in February 2024 but still securing its position as the 12th most-used social platform globally [1]. This figure, however, masks a broader narrative: Elon Musk’s aggressive reimagining of X as an “everything app” is reshaping the platform’s trajectory, blending social interaction with financial services, creator monetization, and AI-driven commerce. For investors, the question is no longer whether X can retain its user base but how it can leverage its 600 million-user milestone to redefine social media monetization.

Strategic Growth: From Social Network to Super App

Musk’s vision for X is audacious. By integrating features like X Money—a peer-to-peer (P2P) payment system, digital wallets, and potential cryptocurrency support—the platform aims to replicate the success of China’s WeChat, which combines messaging, social media, and financial services into a single ecosystem [2]. According to a report by Business of Apps, X Money’s U.S. launch in Q2 2025 is expected to target its 51.8 million domestic users, leveraging partnerships with Visa for real-time transfers and fiat-crypto conversions [3]. This move aligns with global fintech trends, where 78% of internet users in 2025 engage with at least one fintech service monthly [4].

The strategic pivot to a super app model is not without risks. X Money faces stiff competition from established players like Venmo, Zelle, and Cash App, which dominate the U.S. P2P market. However, X’s unique advantage lies in its massive user base and the potential to cross-subsidize services. For instance, users who engage with X Money could be incentivized to spend more time on the platform through integrated commerce features, such as microtransactions for content creators or AI-generated video ads via Hotshot, an AI startup recently acquired by X [5].

Financial Viability: Diversifying Revenue Streams

X’s financial recovery under Musk has been uneven. While the platform reported a $1.4 billion adjusted profit in 2024 [6], ad revenue plummeted by 60% year-over-year in 2023, driven by advertiser exoduses and regulatory scrutiny [7]. To counter this, Musk has diversified X’s monetization strategies:
1. Subscriptions and Creator Payouts: Reduced thresholds for ad revenue sharing and microtransactions aim to attract content creators, who now account for 36.6% of the 25–34 age group, X’s most active demographic [1].
2. Data Licensing: X’s vast trove of real-time data remains a lucrative asset, with third-party analytics firms paying for access to sentiment trends and engagement metrics.
3. X Money: By monetizing financial services—such as transaction fees, interest on stored funds, and premium wallet features—X could generate recurring revenue independent of ad cycles.

A report by Tech Funding News highlights that X’s $32 billion valuation in early 2025, following a $1 billion equity raise, signals investor confidence in this multi-pronged approach [8]. However, the platform must navigate regulatory hurdles, including compliance with anti-money laundering (AML) laws and user trust concerns, particularly after a series of controversies that eroded advertiser confidence [9].

The 600M MAU Threshold: A Make-or-Break Milestone

Analysts project X’s MAU to hover between 610 million and 650 million in 2025, with some estimates suggesting a potential rebound to 600 million by late 2025 or early 2026 [10]. Achieving this threshold would require addressing user attrition, particularly in the U.S., where MAUs fell from 63 million in 2023 to 58 million in 2024 [11]. The success of X Money could be pivotal here. By offering financial tools within the app, X may retain existing users and attract new ones, particularly younger demographics who prioritize seamless digital experiences.

Yet, challenges persist. Competitors like Threads and Bluesky are gaining traction, with Threads projected to surpass X in U.S. MAUs by 2026 [12]. Additionally, user engagement metrics have declined, with average posts per account dropping from 5.73 to 3.55 per week between 2023 and 2024 [13]. For X to thrive, it must balance growth with engagement, ensuring that its “everything app” doesn’t dilute its core social media value proposition.

Conclusion: A High-Stakes Bet on the Future

X’s journey toward 600 million MAUs is emblematic of a broader shift in social media monetization. By transforming from a content-sharing platform to a financial and commerce hub, X is betting on the convergence of digital identity and embedded finance. While regulatory risks and competitive pressures loom, the potential rewards are substantial. If X Money gains traction and creator monetization scales effectively, the platform could redefine how users interact with money, content, and each other—providing a blueprint for the next generation of social media. For investors, the key will be monitoring user adoption rates, revenue diversification, and Musk’s ability to execute his “everything app” vision without fracturing X’s core community.

Source:
[1] Twitter Statistics 2025: How Many People Use X [New Data], [https://www.demandsage.com/twitter-statistics]
[2] Elon Musk's Bold Leap: 'X Money' Set to Transform Financial Services in 2025, [https://opentools.ai/news/elon-musks-bold-leap-x-money-set-to-transform-financial-services-in-2025]
[3] X Money gets 2025 launch date, [https://www.emarketer.com/content/x-money-twitter-launch-adoption-uphill-battle-elon-musk]
[4] Fintech Adoption Statistics 2025, [https://coinlaw.io/fintech-adoption-statistics]
[5] Elon Musk's X: $1B raise, $32B valuation and the path to becoming an 'everything app', [https://techfundingnews.com/elon-musks-x-1b-raise-32b-valuation-and-the-path-to-becoming-an-everything-app]
[6] X to report first annual ad revenue growth since Musk's takeover, [https://www.reuters.com/technology/x-report-first-annual-ad-revenue-growth-since-musks-takeover-data-shows-2025-03-26]
[7] X Statistics: Users, Revenue, and Ads Performance in 2025, [https://www.skillademia.com/statistics/x-statistics]
[8] Elon Musk's X: $1B raise, $32B valuation and the path to becoming an 'everything app', [https://techfundingnews.com/elon-musks-x-1b-raise-32b-valuation-and-the-path-to-becoming-an-everything-app]
[9] X's declining user base: Platform projected to lose millions, [https://mashable.com/article/elon-musk-x-declining-user-base-2025]
[10] X Users, Stats, Data, Trends, and More, [https://datareportal.com/essential-x-stats]
[11] Twitter Revenue and Usage Statistics (2025), [https://www.businessofapps.com/data/twitter-statistics]
[12] Threads Statistics 2025: Metrics That Reveal Real Power, [https://sqmagazine.co.uk/threads-statistics]
[13] X (Formerly Twitter) Business Model - Updated 2025, [https://businessmodelanalyst.com/twitter-business-model/?srsltid=AfmBOoqYAzEpugo3QLsZ2vTIDtZB03XEb4VU6aN8vAzk9_4KO-j8A43D]