X Unveils XWire to Compete with Newswire Services, Expands its Horizon
X, formerly known as Twitter, has announced its ambitious entry into the newswire service arena with XWire, aiming to rival existing platforms like Cision's PR Newswire. This strategic move was unveiled during a company-wide meeting attended by Elon Musk and CEO Linda Yaccarino, where they outlined their plans to transform X into an all-in-one app focusing on creators, video content, payments, and financial services for users. X is also actively challenging industry giants like LinkedIn and YouTube, with a recent introduction of a job listing service that competes directly with LinkedIn's hiring business. These developments come alongside impressive milestones, including X's reach of half a billion posts and 100 billion daily impressions. Users spend 7.8 billion active minutes on the platform daily, with an average user dedicating 32 minutes to their X experience.
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In a strategic shift away from news content, as noted by Instagram head Adam Mosseri, Instagram Threads, its rival X, seems to be forging ahead with new endeavors. Executives at the company, previously known as Twitter, revealed during a recent company-wide meeting their plans to launch XWire, a news wire service set to challenge existing platforms like Cision's PR Newswire, according to Bloomberg.
This significant announcement occurred during Thursday's all-hands meeting, notable for being the first attended by X's owner, Elon Musk, and CEO Linda Yaccarino together since her appointment in May. During this meeting, several initiatives for the company were discussed. Musk's vision to transform X into an all-encompassing app, focusing on creators, video content, payments, and even financial services for users, took center stage.
X is also setting its sights on prominent competitors like YouTube and LinkedIn, emphasizing video content and talent acquisition. To challenge LinkedIn's hiring business, X recently launched a job listing service, featuring job cards that outline role descriptions and other specifics. Although it's still in the early stages, this move marks a direct challenge to LinkedIn's recruitment domain. Further details on how X intends to outperform LinkedIn in this aspect were not disclosed, but this integration could potentially bolster X's position in distributing company news, including press releases.
During the meeting, X also shared impressive milestones, revealing its daily reach of half a billion posts and a staggering 100 billion impressions daily. These metrics were initially disclosed to TechCrunch and were originally announced by Yaccarino at the Khanference 2023 event in October. Additionally, in a subsequent blog post, Yaccarino noted that users collectively spend 7.8 billion active minutes on the platform every day, with an average user dedicating 32 minutes to their X experience. These numbers slightly differ from recent third-party estimates that focused on daily active users in the United States, who spent an average of 20.6 minutes on the platform as of September.
