Among the biggest questions people have been thinking since Elon Musk made his offer to buy Twitter is how the service could change under his ownership. We are still far from making the deal official, but Musk still had to invest in his vision for the company to get the necessary funds. How does it happen, New York Times has acquired a copy of pitch deck for investors, which gives us an idea of the incredibly big vision Musk has for the company. Here are a few highlights.
For starters, Musk wants to increase monthly Twitter users from 217 million at the end of 2021 to nearly 600 million in 2025 and 931 million by 2028. That’s more than a fourfold increase in monthly users over the next six years. Musk also wants to have 104 million paid subscribers for a service called just “X”. There were no details on what kind of product X would be, but Musk enigmatically hinted at a paid experience on Twitter without ads.
Speaking of paying for Twitter, Musk’s pitch deck also has a lot of details about some ambitious revenue targets. He believes Twitter could quadruple its annual revenue to $ 26.4 billion by 2028, compared to approximately $ 5 billion the company earned last year. And Musk also wants to significantly diversify the way Twitter makes money. Right now, advertising accounts for about 90 percent of Twitter’s revenue; Musk wants to reduce that to about 45 percent by 2028. His forecast would include $ 12 billion in advertising revenue and $ 10 billion in subscription revenue.
To meet those lofty goals, Twitter obviously needs a lot more paid users. Musk predicted 69 million Twitter Blue users by 2025 and 159 million by 2028. Twitter Blue is a $ 3-a-month service launched in the U.S. last November and offers benefits such as newspaper ads without ads, the ability to cancel tweets and a few more little things. Between the mysterious product X and Twitter Blue, Musk clearly attaches great importance to competing users to opt for some kind of paid experience on Twitter.
Finally, Musk sees Twitter making some moves in the payment space as well. It wants the company to bring in a modest $ 15 million in payment revenue in 2023, with that number rising to about $ 1.3 billion by 2028. Currently, Twitter offers very limited shopping features and tips that NOW says they have no significant impact on the company’s performance.
The NOW he had no details on how Musk expected to meet these lofty goals – only to expect big things from Twitter once his download is complete. A fourfold increase in the number of users and a fivefold increase in revenue is an extremely difficult task for a company like Twitter that is already well established. But Musk clearly didn’t want to spend $ 44 billion on Twitter just to maintain the status quo.
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