Elon Musk Expects 69 Million Users To Be Using Twitter Blue By 2025
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Elon Musk expects 69 million people to be using Twitter Blue, which will cost $3 (£2.40) a month, by 2025.
Musk, who recently reached an agreement to buy the social media giant for $44 billion (£35bn), laid out his takeover plans in a pitch deck presented to investors this week.
He also proposed that Twitter will quintuple its revenue to reach $26.4 billion (£21.4bn) by 2028 and that a total of 931 million users will have been reached by that year.
In the deck, which was seen by The New York Times, Musk also announced plans to cut advertising to less than 50 percent of revenue.
Twitter has previously been heavily reliant on advertising, which made up 90 percent of revenue in 2020.
Musk’s deck claimed subscriptions will generate $10 billion (£8.1bn) by 2028, with advertising revenue hitting the $12 billion (£9.7bn) mark.
A further $15 million (£12m) will be produced in revenue from a payments business - such as tips and shopping - in 2023, which will jump to $1.3 billion (£1bn) by 2028.
Musk also anticipates the number of Twitter users will near 600 million by 2025 and 931 million by 2028.
He said the majority of user growth will come from ad-supported business, including Twitter Blue, which allows users to better customise their in-app experience. Musk reckons 159 million will be using Twitter Blue by 2028.
Musk also mysteriously hinted at a totally new product called X, which he said will have attracted 104 million subscribers by 2028. No further details about X were listed in the deck.
There’s also going to be a jump in Twitter employees - with Musk stating that today’s 7,500 will climb to 11,072 by 2025.
The NYT notes that Musk will likely ‘shed’ workers during his takeover but hire more engineering talent.
And lastly, Twitter’s free cash flow will grow to $9.4 billion (£7.6bn) by 2028. According to the outlet, Twitter will take on $13 billion (£10.5bn) of debt when Musk takes over, but this will be paid down as free cash flow, which NYT describes as ‘a measure of how much money a company has to service its debt’.
The deck insists that free cash flow will increase even as other costs rise.
UNILAD has reached out to Musk’s representatives for comment.
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Featured Image Credit: Alamy
Topics: Technology, Twitter, Elon Musk
