A month after the acquisition of Twitter, Elon Musk begins to refine his plans to sustain the finances of the social network. And as much to say that the founder of SpaceX and Tesla has ambition. According to New York Timeshe would indeed like to multiply the annual turnover of Twitter by five by 2028 to increase it to 26.4 billion dollars by this deadline, far from the 5 billion dollars earned by the platform in 2021 The equation already seems complicated, but the businessman adds an additional difficulty by announcing that he wants to reduce the advertising revenue generated by the social network.
As the American press points out, according to Elon Musk’s plans, advertising should represent 45% of Twitter’s overall revenue in 2028 – or $ 12 billion in revenue – while in 2020 it constituted around 90% of its turnover. business.
In return, the entrepreneur wants to change the share of subscriptions (paid accounts on the platform via the premium Twitter Blue offer) so that they bring in an additional $ 10 billion to Twitter in 2028. To do this, Elon Musk intends increase Twitter’s average revenue per paid user to $30.22 in 2028 from $24.83 in 2021, while increasing Twitter Blue’s number of users to 69 million by 2025.
Achievable goals?
So many objectives for the less ambitious which will go through a more muscular recruitment on the side of the platform, whose workforce should increase from 7,500 currently to 11,072 employees in 2025. That’s not all: the boss of the vehicle manufacturer Tesla – who is expected to serve as temporary CEO of Twitter – also aims to grow the social network’s cash flow to $3.2 billion in 2025, and $9.4 billion in 2028, reports also the New York Times.
Last month, Elon Musk had finalized, to everyone’s surprise, an agreement to acquire Twitter for the payment of 44 billion dollars in cash, a sum intended to allow him to take control of the platform. Since then, the latter has multiplied the promises to give new impetus to the platform, which since its launch has faced great difficulties in monetizing its audience.
Echoing his previous statements about his interest in the social media platform, Elon Musk said in a statement that “freedom of expression is the foundation of a functioning democracy”. Before adding that “Twitter is the digital public square where vital questions for the future of humanity are debated”. The billionaire’s highlighting of the subject of freedom of expression raises questions about his future direction regarding content moderation on the platform. And its decisions can have a major impact on real-world events and the political situation around the world.
As a reminder, Twitter had permanently banned Donald Trump after concluding that the posting by the former President of the United States of several tweets had “prompted people to commit violent acts” during the Capitol riot on January 6, 2021 in Washington.