Officially bought Twitter worth USD 44 billion, on Tuesday (26/4/2022). Elon Musk reportedly has plans for the Blue Bird platform.
According to a report from The New York Times, Elon Musk is known to have ambitions to increase the number of Twitter users.
For starters, Musk wants to increase Twitter's monthly users from 217 million by the end of 2021 to nearly 600 million by 2025 and 931 million by 2028.
That number will more than quadruple its monthly users in the next six years. Musk also wants to have 104 million paying subscribers for the service referred to as "X".
There is no detailed information about what product X is like and how. But Musk has vaguely hinted at an ad-free paid Twitter experience.
Regarding paid Twitter, Musk has a lot of plans for the revenue of this paid service. He believes that Twitter can double its annual revenue to $26.4 billion by 2028, up from the roughly $5 billion the company made last year. And Musk also wants to significantly diversify the way Twitter makes money.
Currently, advertising accounts for about 90% of Twitter revenue. Musk wants to cut it to around 45% by 2028. His forecasts will include advertising revenue of USD 12 billion and subscription revenue of USD 10 billion.
To meet these goals, Twitter clearly needs more paying users. Musk predicts 69 million Twitter Blue users by 2025 and 159 million by 2028.
Twitter Blue is a $3 per month paid service that launched in the US last November and offers perks like ad-free news articles, the ability to unsend tweets, and more.
Between the mysterious product X and Twitter Blue, Musk clearly attaches great importance to getting users to opt-in to some kind of paid Twitter experience.
Finally, Musk sees Twitter making some strides in the payments space as well. He wants Twitter to generate a modest $15 million in revenue from the payments business by 2023, with that number growing to around $1.3 billion by 2028.
Currently, Twitter offers very limited shopping and tipping features that the New York Times says have no significant impact on the company's bottom line.
The NYT has no details on how Musk hopes to meet this goal, only that Elon expects big things from Twitter once his takeover is complete.
Doubling users and multiplying revenue is a very high target for a company like the established Twitter.
