Musk aims at increasing Twitter's revenue to $26.4 billion by 2028
text_fields
San Francisco: In a pitch deck, Tech billionaire Elon Musk shared that he would be able to double Twitter's revenue by 2028. He projected that the $10 billion increase in revenue would come from the subscriptions, and would bring the total revenue to $26.4 billion . This amount is more than double the total revenue of $5 billion that the platform made last year.
As per reports from The New York Times, in the pitch deck, Musk gave investors a taste of what to expect under his ownership.
This reportedly includes driving up Twitter Blue subscribers to 69 million by 2025 and more than doubling that number to 159 million by 2028, reports The Verge.
Launched last year, Twitter Blue is the service's $2.99/month subscription that gives users access to an "undo tweet" button, app customisation, ad-free articles, and other exclusive features.
Musk expects a huge growth in total Twitter users as well, growing from the 217 million users reported last year to 600 million Twitter users in 2025 and, eventually, 931 million in 2028.
IANS reported that the pitch deck also outlines plans for an unnamed subscription service outside of Blue, called "X", which Musk expects to bring in nine million subscribers in 2023 and 104 million by 2028.
Recently, Musk hinted at charging governments and corporations a "slight cost" to use Twitter.
Whatever subscription "X" may be, revenue from it and Blue combined is supposed to hit the $10 billion mark by 2028, making up a large fraction of the $26.4 billion in total revenue Musk thinks the service will reach that same year, the report said.