Elon Musk’s targets for Twitter — provided that his acquisition of the social media company is successful — are classic Musk. As per recent reports, Musk is looking to double Twitter’s revenue from subscriptions alone to $10 billion by 2028, twice the amount of the company’s total revenue last year.
Apart from this, Musk is also reportedly looking to reach almost 1 billion users on Twitter over the coming years. Musk is reportedly aiming to increase Twitter’s user base to 600 million by 2025, up from 217 million last year. By 2028, Musk is targeting 921 million users for the social media platform.
Musk’s goals for Twitter were shared by The New York Times, which cited a leaked slide deck as its source of information. According to the publication, Musk claimed that he would increase Twitter’s annual revenues to $26.4 billion by 2028, up from $5 billion last year. Musk also doubled down on his stance regarding advertisements, with the Tesla CEO stating that advertising would fall to 45% of total revenue.
In 2020, Twitter’s advertisements comprised 90% of the company’s revenue. That being said, Musk still expects Twitter’s advertising to generate $12 billion in revenue in 2028. Musk also expects to gain revenue from businesses such as data licensing. More importantly, the Tesla CEO is also looking to grow Twitter Blue, the company’s paid service that costs $3 per month, to 69 million paying users by 2025 and 159 million by 2028.
Elon Musk has reached a deal with Twitter’s Board of Directors to acquire the social media company for $54.20 per share in a deal worth $44 billion. Some of the funding for the deal appears to have come from Musk’s recent sale of Tesla shares, while some are coming from other funding commitments.
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