After his 44 billion dollar takeover, Elon Musk has big plans for Twitter.
New York Times has obtained a copy of a pitch deck for investors, which gives us an idea of how the business magnate is going to transform the social media platform.
First, Musk wants to grow Twitter’s monthly users from the current 217 million to nearly 600 million in 2025 and then 931 million users by 2028. So, that’s more than quadrupling its monthly users in the next six years. Musk also wants to have 104 million paid subscribers for a service referred to as “X.” However, no details were released about this product.
As for revenues, Musk wants to quintuple the annual revenue to $26.4 billion by 2028, up from the approximately $5 billion the company made last year. In addition, he wants to diversify how Twitter makes money. Right now, advertising makes up about 90 percent of Twitter’s revenue and Musk wants to cut that to about 45 percent by 2028. His own forecast would include $12 billion in advertising revenue and $10 billion in subscription revenue.
New York Times was not able to ascertain how Elon Musk will make them possible. The sure thing is that Elon Musk did not spend 44 billion dollars on Twitter just to keep it as is.
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