IT House reported on March 10 that according to Fortune, Elon Musk’s social media platform TV application. According to internal sources, the interface of the app is “exactly the same” as YouTube’s TV app.
Sources said Musk’s goal is to encourage users to watch “long-form videos on larger screens,” which is one of a series of plans developed by the X platform to attract Internet celebrities and advertisers. The unnamed source said that “Musk is determined to compete with YouTube,” and he also listed the live broadcast platform Twitch, the encrypted chat application Signal and the social forum Reddit as other services that the X platform wants to compete with.
The launch of the TV app marks Platform X’s efforts to play a more important role in the highly competitive streaming video market. In January this year, the X platform announced that it had become a “video-first platform” and launched a video feature similar to Douyin’s immersive full-screen infinite scrolling.
In fact, this is not the first time that the X platform has entered the TV screen. As early as 2010, the X platform, then known as Twitter, launched a TV application for the discontinued Google TV platform, and in 2011 it launched an application for Samsung smart TVs. In 2016, the X platform also launched streaming applications for Amazon Fire TV, Apple TV and Xbox One.
Musk seems to have a soft spot for content creators such as celebrities, internet celebrities and game streamers. The X platform recently reached an agreement with former CNN anchor Don Lemon, who will produce exclusive programs for it. Former Fox News commentator Tucker Carlson also often publishes long-form video content on the X platform.
Musk also encouraged content creators to migrate all video content to the X platform, claiming that they can obtain higher advertising revenue from it. Mr. Beast, a well-known YouTuber with 243 million subscribers, once uploaded full videos to the X platform and disclosed his income. His first X platform video did earn more than $250,000, but he called it “a bit False” because he believed that advertisers took advantage of the video’s widespread attention and purchased advertising space to boost his income. In addition, the video appeared on users’ timelines multiple times within a day, sparking speculation that the X platform team might be behind it.
Competing with Google-owned YouTube won’t be easy, but luring creators with big bucks could help Platform X close the gap. According to a report by The Information last year, nearly half of U.S. YouTube users will watch videos on TV in 2023. According to data from Nielsen in January this year, YouTube is the highest-ranking streaming service in the United States overall, accounting for 8.6% of TV viewing (compared to Netflix’s 7.9% TV viewing share). YouTube announced in a recent blog post that TV views of its TikTok clone YouTube Shorts jumped more than 100% from January to September 2023.
Despite various measures, Platform X appears to be losing users and advertisers. A new report released Wednesday by Edison Research shows that usage of Platform X has dropped 30% over the past year. Advertisers such as Disney, IBM and Apple have withdrawn from the X platform after Musk posted a post calling an anti-Semitic conspiracy theory “the absolute truth.” Currently, Platform
Platform X’s valuation has also fallen significantly under Musk’s leadership. Fidelity, a shareholder of Platform.
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