Elon Musk reveals his big plan for Twitter: Check the details

Tesla CEO Elon Musk has been buzzing since announcing he was buying Twitter for $44 billion. Since then, he has suggested a number of key steps to improve the platform and increase its revenue in the coming days. The list includes the introduction of a “light cost” for government and commercial users, the introduction of end-to-end encryption in Twitter direct messages (DMs), and the introduction of an edit button. , among others. Now word is that Musk has shared a more detailed plan for how he plans to improve things on Twitter once he takes over. Also Read – Microsoft Founder Bill Gates Questions Elon Musk’s Decision to Buy Twitter, Says He Could ‘Make Things Worse’

In a pitch deck for investors obtained by The New York Times Musk said he plans to grow Twitter’s monthly user count from 217 million at the end of 2021 to around 600 million in 2025 to 931 million by the end of 2028. That means Musk wants to quadruple the Twitter user base in the next six years. years. On top of that, Musk also plans to hire around 3,600 new employees by 2025, which would bring the company’s current headcount from around 7,500 employees to around 11,072 employees. Read also – Twitter may soon allow you to add videos, images in the same tweet: everything you need to know

On revenue, the Tesla CEO said he believes the microblogging platform can quintuple its annual revenue from the roughly $5 billion the company made in 2021 to $26.4 billion. by 2028. To achieve this, Musk wants to diversify his sources. For starters, he wants the social media platform to bring $15 million in revenue to a payments business in 2023, which he wants to grow to around $1.3 billion by 2028. On top of that , he wants Twitter to reduce its reliance on ad revenue. . Currently, advertising accounts for almost 90% of the company’s revenue. Going forward, Musk wants to reduce that to around 45% by 2028. By 2028, he wants advertising to bring in around $12 billion in revenue and subscription revenue to around $10 billion. billions of dollars. Read also – Twitter starts testing threads for Spaces: here’s what it’s doing

For that to happen, Twitter would need many more paying customers than it has today. Musk predicted that Twitter Blue users would reach around 69 million by 2025 and 159 million by 2028.

Interestingly, the SpaceX founder also wants paid subscribers for a mysterious new service called “X” to be around 104 million. Although Musk did not share details of this service, he said the service will provide an ad-free experience for Twitter users.

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