Since buying Twitter for $44 Billion, he has tweeted a series of plans he has for the social media platform. Musk is no stranger to pioneering technology with his electric vehicle company, Tesla, and SpaceX, his rocket company. He now has plans to transform Twitter into a bigger platform with more revenue.
Musk wants to quintuple the revenue of the platform to $26.4 billion by 2028. Last year, the company made $5 billion. He plans to drop advertising revenue to 45 percent of total revenue, down from around 90 percent in 2020. Advertising would generate about $12 billion, about $10 billion would come from subscriptions, and the rest would come from businesses such as data licensing.
Twitter would bring in $15 million from a payments business in 2023, according to the document, which would grow to about $1.3 billion by 2028. Musk also plans on Increasing average revenue per user from $24.83 to $30.22
Musk anticipates Twitter’s total number of users will grow from 217 million at the end of last year to nearly 600 million in 2025 and 931 million in 2028.
Musk has also proposed Twitter Blue, a subscription service that would charge users $3 a month to customize their experience on the app.
Twitter is transforming and may no longer be the platform it used to be. Musk is an innovative individual and will create a whole new experience for users.
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