Twitter stock dropped by more than 10 per cent on Tuesday after the social media outfit revealed it had failed to add any new users in the US for the second quarter in a row.
In order to halt the slowdown Twitter is turning to old media, it will start airing TV ads during the World Series baseball championship starting next week.
At the end of September, Twitter had a core audience of 307 million active users, adding just 3 million worldwide during the three months since June – a gain of less than 2 per cent. The number of US users – the most valuable to advertisers – has remained flat at 66 million since the start of the year and failed to grow again over the last quarter.
While Twitter has remained popular with celebrities it has so far failed to find the kind of mass market appeal that has made Facebook so omnipresent. Instagram now has 400 million users and is growing at a faster pace than Twitter.