X Premium Gains Subscribers After Price Increase

X’s push to drive revenue through subscriptions is showing modest signs of progress, with its X Premium offering seeing a notable uptick in subscriptions beginning from November 2024 until the end of the year. This surge followed a 40% discount promotion during the Black Friday period, paired with prominent in-app advertising, and the introduction of a gifting option for Premium subscriptions. According to AppFigures, X’s net revenue for November hit $16.5 million, marking a 27% increase from October and its highest monthly revenue to date.

Analysts estimate that the app’s paid subscriber base has grown to around 2 million users. While this remains a small fraction of X’s total user base—less than 1%—it indicates gradual progress toward expanding its Premium tier. Elon Musk’s original vision of 69 million subscribers by 2025, however, appears increasingly unlikely.

A large majority of these subscribers have kept their subscription going into 2025, even after the price increase of 30% back in December. This may have been helped by the ability to gift Premium to other users, something that could have happened fairly often during the Christmas season between users that are more tech or social-media-inclined.

While X Premium only has a small percentage of the platform’s total userbase, 2 million uses is still a significant amount of income alongside X’s other revenue streams. Time will tell if this number increases in the coming year, but with X planning to add even more features, it’s likely that premium will get more appealing to a wider audience over time.