The platform saw a dramatic turnaround in user engagement after its May 2024 rebranding, with growth rates skyrocketing to a peak of 28% in mid-July. By the end of August, X managed to sustain a solid 22% increase in year-over-year growth, proving that Musk's social media venture still packs a punch.
While Facebook flounders, Pinterest has been on a growth spree, boasting a robust 13% increase in user engagement by late August. Pinterest's consistent double-digit growth suggests that users are gravitating towards visually-driven content and creative inspiration, areas where the platform has firmly established itself.
The real surprise, however, comes from the realm of app-based social platforms like TikTok and Snap, which are showing impressive resilience. With steady growth rates between 9% and 15%, these platforms are capitalizing on their engaging, short-form content to attract and retain users.
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