Published on January 7th, 2025
X’s endeavor to monetize its platform through X Premium has been met with skepticism, with many doubting whether it could ever become a significant revenue stream.
However, recent data suggests that this push is gradually bearing fruit, with notable growth in subscriptions fueled by targeted promotions and strategic initiatives.
Black Friday Promotions Drive Substantial Growth
One of the pivotal moments for X Premium came in the lead-up to Christmas, coinciding with Black Friday.
X introduced a compelling 40% discount offer for its premium subscription, which was aggressively promoted through full-screen, unavoidable ads within the app.
According to AppFigures, these efforts resulted in a significant revenue spike.
In November, X’s net revenue reached $16.5 million after deducting Apple and Google’s share, marking a 27% increase compared to October’s $14.7 million—the platform’s previous revenue high.
This jump underscores the effectiveness of discount-driven campaigns in boosting subscription numbers.
Growing Subscriber Base
The increase in revenue suggests a growing base of X Premium subscribers. At an average subscription price of $11, the additional $1.8 million in revenue could translate to approximately 200,000 new subscribers in November.
With these figures, X’s paying user count may now exceed 2 million, representing a significant milestone for the platform, even if it remains a small fraction of X’s total user base.
Key Factors Influencing Growth
Several factors contributed to the uptick in X Premium subscriptions:
- Discount Campaigns: The Black Friday deal clearly played a critical role, demonstrating the power of time-sensitive offers.
- Gifting Options: X introduced the ability to gift X Premium subscriptions, broadening its appeal and providing an innovative way to attract more users.
- Political Context: October’s subscriber growth may have been influenced by Elon Musk’s heightened profile ahead of the U.S. election and Donald Trump’s victory, drawing more attention to the platform.
- AI Integration: X’s AI chatbot, Grok, has been another focal point. Initially exclusive to premium users, Grok is now available in a limited form to all X users. The promise of full access to Grok’s capabilities serves as a potential incentive for users to upgrade to X Premium.
Long-Term Implications
While X Premium’s subscriber base remains relatively small compared to X’s total user population, the steady growth is a positive sign for the platform’s monetization strategy.
If X can continue to enhance the value proposition of its premium offering—whether through exclusive features, discounts, or innovative tools like Grok—it could further expand its revenue base.
Moreover, the platform’s focus on visibility and strategic promotions suggests a commitment to long-term growth.
As X continues to experiment with ways to attract and retain paying users, its premium model may become an increasingly vital part of its business.
Conclusion
The data shows that X Premium’s growth is incremental but promising. November’s revenue boost highlights the impact of targeted promotions and feature enhancements.
With a growing base of paying users and ongoing efforts to refine its premium offerings, X is steadily carving out a path toward sustainable monetization.
Whether this will evolve into a major revenue stream remains to be seen, but the current trajectory offers hope for the platform’s future.
