Elon Musk, the Tesla CEO who recently purchased Twitter for USD 44 billion, recently detailed his goals for the social media site to investors, including a goal of 931 million users by 2028.
Musk’s pitch deck, according to The New York Times, contains plans to boost Twitter’s annual income to USD 26.4 billion by 2028, up from USD 5 billion in 2021.
Twitter’s reliance on advertising revenue will be reduced to 45 percent of overall revenue. Advertising will bring in USD 12 billion in 2028, while memberships would bring in roughly USD 10 billion.
However, in 2023, it will generate USD 15 million from a payment company, which will grow to USD 1.3 billion by 2028.
Another goal is for Twitter’s total user base to reach almost 600 million in 2025 and 931 million in 2028. By comparison, Twitter has 217 million users as of the end of 2021. Musk anticipates 69 million Twitter Blue users by 2025 and 159 million by 2028. Musk, on the other hand, intends to raise the average revenue per user by USD 5.39.
Musk’s pitch deck also includes a new product named X, which will debut in 2023 and is projected to attract 9 million users in its first year and 104 million by 2028.
By 2025, Musk expects Twitter to have 11,072 employees. Twitter will have over 7,500 employees by the end of 2021.