{"id":27820,"date":"2022-05-10T04:23:44","date_gmt":"2022-05-10T04:23:44","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2022\/05\/10\/twitter-x-marks-the-spot-for-elon-musks-growth-plans\/"},"modified":"2022-05-10T04:23:44","modified_gmt":"2022-05-10T04:23:44","slug":"twitter-x-marks-the-spot-for-elon-musks-growth-plans","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2022\/05\/10\/twitter-x-marks-the-spot-for-elon-musks-growth-plans\/","title":{"rendered":"Twitter: X marks the spot for Elon Musk’s growth plans"},"content":{"rendered":"
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Elon Musk aims to quintuple Twitter’s revenue to $26.4 billion (\u00a321.4 billion) by 2028, a presentation to potential Twitter investors <\/b>seen by the New York Times (NYT) suggests.<\/p>\n<\/div>\n

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Last year, Twitter’s revenue was $5 billion.<\/p>\n<\/div>\n

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The report also reveals plans to launch a new service called X, aiming for nine million subscribers in the first year and 104 million by 2028.<\/p>\n<\/div>\n

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Tech industry analyst Kyle Rees says the targets are “very preliminary given the state of global and industry matters.” <\/p>\n<\/div>\n

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The NYT says the revelations are in a “pitch deck” presented to investors “over the past few days.” <\/p>\n<\/div>\n

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It suggests Mr Musk is hoping the number of Twitter users will grow from more than 200 million last year to over 900 million in 2028.<\/p>\n<\/div>\n

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The document also shows that Twitter’s headcount will grow by 3,600 by 2025. However, the NYT reports that headcount is likely to fluctuate in the short term.<\/p>\n<\/div>\n

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Mr Musk recently tweeted these employees<\/a> should anticipate work ethic expectations that are “extreme but much less than I ask of myself”. <\/p>\n<\/div>\n

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  • Elon Musk pledges $7 billion for Twitter deal<\/li>\n
  • Twitter: Why Elon Musk was so keen to take control<\/li>\n<\/ul>\n<\/div>\n<\/div>\n
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    In 2020, advertising generated about 90% of Twitter’s revenue, according to the NYT.<\/p>\n<\/div>\n

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    Subscription services will appear to play a key role in boosting Twitter’s revenue, which it hopes will generate nearly $10 billion by 2028. <\/p>\n<\/div>\n

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    Part of the revenue stream, the document says, will come from a mysterious new product called X, details of which have yet to be announced.<\/p>\n<\/div>\n

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    It also aims to increase the number of Twitter Blue subscribers to 69 million by 2025 and 159 million by 2028.<\/p>\n<\/div>\n

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    Twitter Blue already exists and offers users in countries where it’s available features like an undo button on tweets and ad-free articles for a $3 per month subscription.<\/p>\n<\/div>\n

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    Twitter declined to comment on the NYT report.<\/p>\n<\/div>\n

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    Mr Rees of Gartner, a firm specializing in market research, told the BBC that “most of these targets appear to be contingent on the number of platform users and subscribers growing”.<\/p>\n<\/div>\n

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    But he added: “Here’s an entrepreneur with a proven track record of entering industries that favor incumbents and successfully disrupting the status quo. <\/p>\n<\/div>\n

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    \u201cWhether it’s payments, satellites, spaceships, automobiles and now social media, [Mr] Musk has a knack for pushing entire categories of products and services, and I suspect that’s part of what we’ll see here.<\/p>\n<\/div>\n

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    “It’s all very exciting. But whether that leads to success, we’ll have to see,” he added. <\/p>\n<\/div>\n