Hey there! I know you‘re curious about how many users Twitter Spaces has attracted so far. As Twitter‘s new live audio chat feature, Spaces is their attempt to take on the explosively growing social audio market.
In this post, we‘ll dive deep into the latest statistics and trends to understand how Twitter Spaces is performing and its potential to compete with Clubhouse and other platforms. I‘ll share insights from my experience analyzing social media and emerging tech markets.
Let‘s get to the numbers!
Contents
Key Stats on Twitter Spaces Adoption
- Twitter has 450 million monthly active users – that‘s the total pool of people who now have access to Spaces on mobile.
- There are around 115 million monetizable daily active Twitter users. These are the most active, highest-value users.
- Approximately 500K Spaces were created within the first few months of the initial beta test launch.
- 80% of those Spaces had more than 5 listeners join.
- By February 2022, the total number of Spaces created passed 1 million.
So the initial data indicates strong early adoption, with most Spaces getting decent listener numbers right off the bat. Twitter‘s massive existing user base gives them a huge advantage here compared to upstarts like Clubhouse.
But how does this adoption compare to Clubhouse so far? Let‘s explore that next.
Spaces vs. Clubhouse – Tale of the Tape
Clubhouse deserves credit as the app that started the social audio revolution. Its growth since launching in early 2020 is nothing short of insane:
- Clubhouse has grown from just 1,500 users in May 2020 to over 10 million weekly active users as of February 2021.
- An average Clubhouse room draws between 5,000-7,000 listeners. Top rooms can hit the current cap at 8,000.
- 700,000+ Clubhouse rooms are now being created per day.
- Clubhouse has racked up over 13 million total app downloads as of February 2021.
So while Twitter has the broader user base, Clubhouse has seen far faster growth out of the gates due to its buzz and novelty as a new platform.
Twitter is also playing catchup to Clubhouse on some product features, like:
- Room size: Clubhouse rooms can have up to 8,000 listeners, while Twitter Spaces maxes out at 5,000 listeners currently.
- Speaker limits: Clubhouse doesn‘t enforce speaker limits, while Twitter Spaces caps speakers at 11.
However, Twitter does have some inherent advantages, like:
- The ability to easily cross-promote Spaces to existing followers, something Clubhouse lacks.
- Stronger content moderation thanks to over a decade improving such systems.
- Revenue generation – Clubhouse still lacks monetization, while Twitter can earn from Spaces tickets.
Now let‘s analyze how Twitter can convert its broader user base into more engaged Spaces creators and listeners.
Evaluating Twitter‘s Addressable Audience for Spaces
Here are some key stats that give a profile of Twitter‘s overall audience:
- There are around 21 million daily monetizable Twitter users just in the United States.
- 52% of daily active Twitter users are located in the United States.
- Twitter‘s most active demographic is those aged 25-34, which accounts for over 38% of users. The next biggest group is 18-24 at 17%.
- Over 42% of Twitter users have a bachelors degree or higher.
This data tells us that Twitter‘s core US user base of millennials and Gen Z are squarely in the target market for social audio products like Spaces. If Twitter can convert even 15-20% of daily active users into weekly Spaces participants, that‘s tens of millions of users.
Twitter is quite candid that Spaces are a key priority. They aim to grow total monetizable daily active users from 152 million at end of 2020 to 315 million by the end of 2023. Spaces will likely contribute heavily to hitting that goal.
Next let‘s look at how Twitter is monetizing all these users, and what this means for Spaces.
Twitter‘s Revenue Growth and Monetization Potential for Spaces
Here are some of Twitter‘s recent revenue highlights:
- Twitter generated $3.72 billion in worldwide revenue in 2020.
- 87% of Twitter‘s 2020 revenue came from advertising, or $3.24 billion.
- Twitter earned $1.41 billion in ad revenue in Q4 2021 alone, up 37% year-over-year.
- Total revenue hit $1.57 billion in Q4 2021, a 22% increase over Q4 2020.
With ad revenue skyrocketing, Twitter is investing heavily in improving targeting and measurement capabilities. The company has also built out a roust creator ecosystem with products like Super Follows and newsletters.
Spaces can capitalize on these monetization engines:
- Brand sponsorships of top Spaces hosts and influencer conversations.
- Promoted Spaces similar to promoted tweets.
- Ticketed Spaces allowing hosts to earn revenue from exclusive premium content.
Industry analysts predict social audio overall could become a $4 billion market by 2024. If Twitter captured just 25% share, that‘s $1 billion annually.
But generating revenue from Spaces brings some challenges too. Let‘s discuss those next.
The Challenges Twitter Faces in Gaining Traction with Spaces
Though Twitter bought the live audio app Breaker, they are newer to the social audio format vs. Clubhouse. Some hurdles they face include:
- Getting users accustomed to voices vs. visual content.
- Building robust tools and mods to prevent abuse and misinformation.
- Compensating top creators well to incentivize great content.
- Optimizing user discovery and notifications around relevant Spaces.
However, Twitter deserves credit for moving thoughtfully and not rushing Spaces out too quickly just to chase the buzz. They are still in the early innings of figuring out the unique creative and community norms around social audio.
If Twitter can tap into the types of vibrant, serendipitous conversations that Clubhouse pioneered, they have a huge opportunity. But it will require rethinking many assumptions baked into the current Twitter experience.
The Road Ahead for Twitter Spaces
It‘s still the early days for understanding Twitter Spaces true potential. But here are a few statistics that give clues on where things could be headed:
- Twitter wants to grow total monetizable daily active users from 152 million at end of 2020 to 315 million by end of 2023. Spaces will likely contribute significantly to that growth.
- Their stated goal is for Spaces to make up a double digit percentage of total time spent on Twitter. That‘s hugely ambitious.
- Expanded tools for creators, better discovery, and exclusive content could all boost Spaces engagement and retention.
- Additional monetization options like subscriptions and tipping would incent more creators to host Spaces consistently.
While social audio is still evolving, Twitter Spaces has an opportunity to be a vibrant new way brands, creators and friends connect. But it will require Twitter to move quickly and execute flawlessly.
The next 12-18 months will be critical to watch in terms of whether Spaces can fulfill its potential. I‘ll be keeping a close eye on the data and trends!
The Key Takeaway
Though adoption is still in its early stages, the numbers show strong initial interest in Twitter Spaces. Twitter‘s large existing user base gives it a huge leg up. But competition from Clubhouse and others will push Twitter to enhance Spaces with better tools and monetization options.
The social audio format has captivated people‘s imaginations and attention. All signs point to audio spaces becoming a major form of human connection for the future. But there will likely be just a handful of big winners in this market. Building an audio network is complex and challenging.
While it‘s still too early to call, Twitter has a fighting chance to make Spaces one of the top social audio platforms next to Clubhouse. But they will need to move fast and capitalize on their assets like cross-promotion. Cryptic corporate statements about "double digit time spent" won‘t cut it alone.
In the end, Twitter needs to empower millions of creators and listeners to build Spaces communities organically, not just hype a new feature. Done right, Spaces could recapture the magic of Twitter‘s early days. There‘s still time, but the clock is ticking.
Let me know in the comments what other Spaces stats or trends you‘re interested in! I‘m happy to dig in and keep sharing what I learn. Talk soon!
