Billionaire Elon Musk gave a presentation to investors outlining his grand plans for Twitter and his financial goals for 2028.
guarantee Offer Twitter generate annual revenue It will reach $26.4 billion by 2028, compared to $5 billion last year.
Musk indicated that his plans include reducing Twitter’s dependence on ads to less than 50% of profits, to reach 45% of total revenue, down from about 90% in 2020, according to a report by the New York Times seen by Al Arabiya.net.
The report said that will generate $12 billion in revenue and about $10 billion in subscriptions in 2028, while other revenue may come from businesses such as data licensing.
Twitter is also generating $15 million in commercial payments in 2023, which will grow to about $1.3 billion by 2028.
Musk predicted that ARPU – a key metric for social media companies – would increase by $5.39 with all these changes, to $30.22 in 2028 from $24.83 last year.
Musk also predicted that the number of Twitter users would rise to 931 million users by 2028, from 217 million users at the end of last year, and to reach 600 million in 2025.
“Most of this growth will come from ad-supported businesses on Twitter, including Twitter Blue, for which users pay $3 a month to customize their experience on the app,” the report continued.
The report stated that Musk plans to hire 3,600 employees, bringing the number of Twitter workers to 11,072 thousand employees by 2025.
Musk also aims to raise free cash flow to $3.2 billion in 2025, and then to $9.4 billion in 2028, noting that Twitter will add about $13 billion in debt as part of the acquisition plan.