Ilan Mask wants to double Twitter revenue by selling subscriptions
Ilan Musk, who some time ago made a lot of noise about his purchase of Twitter, apparently intends to increase the company's revenue by 2028 by selling subscriptions. To $ 10 billion. It should be noted that Twitter had a total revenue of about $ 5 billion last year.
According to the New York Times, Ilan Musk has announced this figure to banks and investors. He believes that by 2025 it can increase the number of Twitter Blue subscribers to 69 million and by 2028 to 159 million. The service was introduced last year, and users can use more features for their Twitter account for a monthly fee of $ 2.99. Ilan Musk also claims that during his leadership, the number of users of this social network will increase significantly. Last year, Twitter reported 217 million users, and Mr. Musk plans to increase the number of users to 600 million by 2025 and to 931 million by 2028.
Also in a plan presented by Ilan Musk , Also mentioned a new shared service that is expected to attract about 9 million users in 2023 and about 104 million users by 2028. Mr. Musk pointed out some time ago that in the future, organizations and governments may have to pay a subscription fee to use Twitter.
In addition, Twitter is expected to increase its advertising revenue significantly. Twitter, like many social networks, relies heavily on advertising. A few days after the announcement of the purchase of about 9% of Twitter shares, Mr. Musk published a tweet with the theme of removing ads for paid users, after which the desired tweet was deleted. In any case, he intends to generate about 45% of the company's total revenue through advertising by 2028.
On the other hand, Ilan Musk has stated that he can generate significant revenue by providing information about tweets. Earn. He apparently intends to provide millions of tweets daily to companies and developers to be used for tasks such as market research. It should be noted that Twitter is already doing the same, earning about $ 570 million last year. So it's not clear how Ilan Mask wants to increase the revenue from this method.
Overall, restructuring Twitter will not be easy. The New York Times reports that he plans to hire about 3,600 new employees over the next few years. Of course, it has been announced that the number of employees will increase in 2022, but it will decrease in 2023, and finally the company will face an increasing trend in the number of employees again.
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Source: the Verge
