According to the New York Times, Elon Musk wants to boost Twitter’s yearly income to $26.4 billion by 2028, up from $5 billion last year.
According to the research, advertising will account for 45 percent of overall revenue under Musk, down from approximately 90 percent in 2020, creating $12 billion in revenue in 2028, while subscriptions will bring in an additional $10 billion.
According to the publication, citing the presentation, Tesla’s CEO wants to boost Twitter’s cash flow to $3.2 billion in 2025 and $9.4 billion in 2028.
Last month, Musk closed a $44 billion cash deal to buy Twitter, handing over control of the social media company to the Tesla CEO.
By cracking down on spam bots and reducing the amount of moderating to promote more “free speech,” the billionaire has promised to reinvigorate the company and increase the number of users.
Musk is anticipated to become Twitter’s interim CEO after the acquisition is completed, according to a source familiar with the situation.
By cracking down on spam bots and reducing the amount of moderating to promote more “free speech,” the billionaire has promised to reinvigorate the company and increase the number of users.
REUTERS
According to the New York Times, Musk expects the social media company to make $15 million in 2023 from a payments operation that will grow to $1.3 billion by 2028.
According to the report, Musk expects to raise Twitter’s average income per user to $30.22 in 2028, up from $24.83 last year. By 2025, he estimates that Twitter will have 11,072 employees, up from roughly 7,500 now.
According to the New York Times, revenue from Twitter Blue, the company’s premium subscription service established last year, will reach 69 million subscribers by 2025.
Musk suggested a number of modifications to Twitter’s premium subscription service, including lowering the fee, in a now-deleted message last month.
Musk announced on Thursday that a group of high-profile investors, including Oracle co-founder Larry Ellison and Sequoia Capital, are ready to give $7.14 billion in cash for his Twitter bid.
Musk has boosted his financial pledge to $27.25 billion, which includes promises from 19 investors, and decreased a Morgan Stanley margin loan connected to his Tesla stock to $6.25 billion. He’s already gotten $13 billion in loan pledges backed by Twitter stock.
Musk was unavailable for comment when contacted. A request for comment from Reuters was not immediately responded to.
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