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Musk thinks he can double Twitter's revenue from subscriptions by 2028

In a pitch deck viewed by the New York Times, Musk gave investors a taste of what to expect under his ownership

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Twitter | Elon Musk

IANS  |  San Francisco 

Twitter

Tech billionaire expects to earn almost $10 billion in revenue from subscriptions by 2028, a projection that doubles the $5 billion in total revenue the platform made last year, as per a report from The New York Times.

In a pitch deck viewed by the Times, Musk gave investors a taste of what to expect under his ownership.

This reportedly includes driving up Blue subscribers to 69 million by 2025 and more than doubling that number to 159 million by 2028, reports The Verge.

Launched last year, Blue is the service's $2.99/month subscription that gives users access to an "undo tweet" button, app customisation, ad-free articles, and other exclusive features.

Musk expects a huge growth in total Twitter users as well, growing from the 217 million users reported last year to 600 million Twitter users in 2025 and, eventually, 931 million in 2028.

The pitch deck also outlines plans for an unnamed subscription service outside of Blue, called "X", which Musk expects to bring in nine million subscribers in 2023 and 104 million by 2028.

Recently, Musk hinted at charging governments and corporations a "slight cost" to use Twitter.

Whatever subscription "X" may be, revenue from it and Blue combined is supposed to hit the $10 billion mark by 2028, making up a large fraction of the $26.4 billion in total revenue Musk thinks the service will reach that same year, the report said.

--IANS

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Sun, May 08 2022. 10:32 IST
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