Elon Musk Believes Twitter’s Revenue Can Only Be Doubled Through Subscriptions
Twitter could make 69 million dollars in 2025 from Musk's plan
Elon Musk, who is the owner of Twitter now as well as the richest man in the world, projects that the company’s revenue will double to almost $10 billion by 2028. This prediction is based on a report from The New York Times which suggests Twitter made $5 billion in total revenue.
The pitch deck explained how Musk plans to see Twitter Blue’s subscriber numbers increase dramatically. By 2028, Musk wants there to be a total of 931 million Twitter users.
Musk expects “X,” outside of Blue, to bring in nine million subscribers. With the money from this service, he forecasts $10 billion in revenue for 2028 and totals $26.4 billion for that year.
According to a New York Times article, Twitter is relying on advertising in the past – the idea being that they’ll make up 45% of their revenue by 2028. However, according to Elon Musk, there should not be advertisements on paid accounts.
Really cannot stress enough that Twitter has virtually no data to license; tweets copyrights belong to users. Elon would have to radically change the terms of service to resell tweets and there are huge revshare and fair use issues to contend with https://t.co/shZiPUfkGH pic.twitter.com/2KPZeYkva3
— nilay patel (@reckless) May 6, 2022
Musk predicts PayPal could make $500 million by the end of 2020, which will grow to over a billion by 2028. One use for PayPal is the ability to purchase Super Follows and make donations (akin to tipping) on Twitter. Musk’s experience in founding PayPal could help him find space for more ventures on the platform.
Twitter hopes to earn revenue from data licensing and other sources, much like last year, where Twitter earned $572 million through this business. If Elon Musk has his way, all of your tweets would be sold to companies and developers who look into trends. This is a seriously shady enterprise with governing terms that would need to change in order to make it happen. The copyright law prevents anyone from making money simply off of their tweets because they belong rightfully to the person who posted them.
Musk’s vision for Twitter is to make it a go-to news platform where people can find up-to-date quick insights on major news stories. One way to do this would be to hire more employees. Musk wants to have 11,072 employees by 2025, with the number of Twitter employees increasing in 2022 and dipping in 2023 before going up again.