User burnout imperils Twitter, analysts say
LOS ANGELES — They loved it. Now they hate it.
A growing number of celebrities, athletes and selfpromoters are burnt out and signing off of Twitter. Many have gotten overwhelmed.
Some people built big audiences on the short-messaging service only to have their followers turn against them. Others complain that tweets that once drew lots of attention now get lost in the noise.
Twitter Inc. began trading publicly Thursday with the company selling potential investors on the idea that its user base of 232 million will continue to grow along with the 500 million tweets that are sent each day. The company’s revenue depends on ads it inserts into the stream of messages.
Shares of Twitter stock were priced in its initial public offering at $26 — valuing Twitter at $14.2 billion.
When public trading opened Thursday, the price quickly jumped before closing at $44.90. On Friday, Twitter’s first full day of trading in New York, shares declined to $41.65 at the close.
Thursday’s closing price valued Twitter at 22 times estimated 2014 sales, more expensive than Facebook Inc., which traded at 11.2 times sales. Twitter is benefiting from investors looking for companies that will grow quickly in expanding markets like mobile advertising, according to Bloomberg News. Twitter draws 70 percent of revenue from mobile advertising, compared with about half for Facebook.
But Wall Street could lose its big bet on social media if prolific tweeters lose their voice.
Evidence of Twitter burnout isn’t hard to find. Just look at the celebrities who — at one time or another — have taken a break from the service. The long list includes everyone from Alec Baldwin to Miley Cyrus to Lost cocreator Damon Lindelof.
Actress Jennifer Love Hewitt lamented “all the negativity” she saw on the service when she quit, temporarily, in July. Actress Megan Fox left nearly a million followers dangling when she checked out in January, explaining that “Facebook is as much as I can handle.” Pop star John Mayer deleted his account in 2011, saying Twitter absorbed so much of his thinking, he couldn’t write a song.
“I was a tweetaholic,” he told students during a talk at the Berklee College of Music.
If Twitter turns off celebrities who have a financial incentive to stay in close contact with fans, how can the company prevent average users from becoming disenchanted?
For some users, Twitter tiredness sets in slowly. At first, they enjoy seeing their tweets of 140 characters or less bounce around the Web with retweets and favorites. But new connections soon get overwhelming. Obligation sets in — not only to post
more, but to reply to followers and read their tweets.
Many users conclude that Twitter is a time-sucking seduction and turn away. One who calls herself patrilla$$$thrilla excitedly tweeted “first tweet, wocka wocka” just after she joined in July.
On Wednesday, 161 tweets and 27 followers later, the romance was over. She quit to “fully enjoy the little details in life I miss because I’m too busy here,” she tweeted.
The cacophony creeps into everyday life. Twitter fanatics tweet from the dinner table, during a movie, in the bathroom.
The overdoers suffer from a “fear of missing out”, said Tom Edwards, vice president at the marketing arm, a Dallas-based advertising agency. “Managing our virtual personas, including all of the etiquette that comes with, can be tiresome, especially for those with large followings.”
It happens — even to people who ought to know better. Just ask Gary Schirr, an assistant professor who teaches a course on social media at Radford University.
In August, while vacationing on a beach, Schirr felt a pang of withdrawal because he had stopped tweeting. Then he saw an old condemned house about to be washed away and posted a photo to Facebook and Twitter. He felt relieved when the likes and retweets rolled in.
“You feel forgotten if you’re not out there,” he said. “It’s another sign of addiction. You feel bad if you don’t tweet.”
Prolific tweeters stay engaged partly because there are real benefits to a big following.
Journalists who have large Twitter followings have used them to land better-paying jobs because every click on stories can make more money for their new employer. Actors can land roles on TV or in the movies if their digital audience is expected to tag along.
Matt Lewis, a columnist with The Week magazine, said his Twitter following is like “portable equity” that gave him an edge over more established writers earlier in his career. He’s now got nearly 33,000 followers.
Even so, one of Lewis’ more popular stories is titled “Why I hate Twitter.” It goes into why the social network became, for him, “a dark place” overrun by “angry cynics and partisan cranks.” He became demoralized by the criticism, but he couldn’t pull himself away.
Today, Lewis rarely interacts with his followers and said he hopes the service will come up with new ways to filter out the hate tweets. “Why should I be harassed if I look at my button?” he said.
But he remains amazed at how Twitter has helped him reach new readers, and after some 67,000 tweets, he isn’t giving it up.
Others find that as more people join the service, the deluge can drown out individual voices.
So says Bob Lefsetz, a musicindustry analyst who writes an email column titled the “Lefsetz Letter.”
Twitter, he wrote in July, is “toast.” “Over. Done. History.” His follower count isn’t rising as quickly as before, although it’s still a respectable 57,000-plus. And his tweets don’t see as much action as in the past, which he attributes to too many people tweeting “too much irrelevant information.”
“In the old days, I’d get 20 retweets. Now I’ll get none,” Lefsetz said. “It makes me not want to play.”