If Elon Musk’s $ 44 billion bid to acquire Twitter gets the green light from shareholders and regulators in the coming months, the wealthy entrepreneur believes he will be able to double the company’s revenue by 2028.

Speaking to investors recently, Musk said he believed Twitter could generate $ 26.4 billion in revenue in six years, a huge increase from the $ 5 billion the company earned in 2021.

So how exactly does he expect to do that?

Subscriptions will become a much more important driver of revenue than today, accounting for $ 10 billion from 2028 figures, while advertising will lead to $ 12 billion (equal to 45% of total revenue, down 90% in 2020). ), Musk said in comments reported by New York Times. This is after a revelation last week in which Musk said there may be a “light price” for commercial and government users who want to use Twitter. The remaining $ 4.4 billion would come from elements such as data licensing.

Subscriptions will consist of two products, Musk said. The first is Twitter Blue, an existing service that offers users additional features for $ 3 per month, although this can be reduced to $ 2. Musk said he estimates Twitter Blue could reach 69 million users by 2025 and 159 million by 2028.

The other is a new product called “X”, although Musk did not specify what he will offer. However, he is very keen on this, as he aims for 9 million registrations in the first year, before reaching 104 million users in 2028.

Musk also plans to expand Twitter’s payment business, which includes tips and shopping, a move that could increase its revenue from approximately $ 15 million next year to $ 1.3 billion in 2028. As the Times notes, it is possible the future owner of Twitter will also add a payment feature to the app, reflecting PayPal, a service he helped build two decades ago.

Musk also believes Twitter could expand its global user community from 217 million to 600 million in 2025, further increasing it to 931 million in 2028, a bold statement given the slow growth rate of the company in recent years.

Critics are already voicing concerns about Musk’s plans for Twitter, with many worried that his expected move to reduce moderation of the service in the name of free speech could eventually push people off the platform.

But it is worth remembering that this is the man who turned Tesla into a money-maker and also grew into a hugely successful commercial space flight company in the form of SpaceX. Getting on Twitter is certainly a monumental challenge, but until Musk reveals more details about exactly how he wants to do business, it’s impossible to say how things will turn out.

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https://www.digitaltrends.com/social-media/elon-musk-quintuple-twitter-revenue-by-2028/

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