Elon Musk, the Tesla CEO that recently acquired Twitter for USD 44 billion, has recently pitched his plans for the social media platform to investors, which includes its target to reach 931 million users by 2028.
In a report by The New York Times, Musk’s pitch deck includes its plans to increase Twitter’s annual revenue to USD 26.4 billion by 2028, up from USD 5 billion in 2021.
It also wants to cut Twitter’s reliance on advertising revenue to 45% of total revenue. In 2028, advertising would generate USD 12 billion in revenue and subscriptions to nearly USD 10 billion.
It will, however, produce USD 15 million from a payment business in 2023, which would grow to USD 1.3 billion by 2028.
Another target is to increase Twitter’s total number of users to nearly 600 million in 2025 and 931 million in 2028. To compare, Twitter’s users as of the end of 2021 is at 217 million. Musk also expects 69 million users of Twitter Blue by 2025 and 159 million in 2028. That said, Musk wants to increase the average revenue per user by USD 5.39.
Musk’s pitch deck also mentions a new product called X, which is expected to be released in 2023 and is anticipated to get 9 million users in its first year, and 104 million users in 2028.
Musk also anticipates Twitter to have 11,072 employees by 2025. As of the end of 2021, Twitter has more than 7,500 employees.
Source: Yugatech
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