Elon Musk is already planning on where he wants to take Twitter, and some of it is a bit of a surprise.
According to the New York Times, Musk aims for some significant changes to the social media giant. At least he is, according to his pitch deck.
Here are some of the highlights
Musk believes that he will increase annual revenue for Twitter from the current $5 billion to $26.4 billion by 2028.
He plans to cut advertising to 45 per cent of total revenue.
To make up for advertising revenue, Musk plans to do the following
- Expand Twitter Blue and bring in $69 million in subscription payments by 2025
- Launch product called X that will have 104 million users by 2028. (No details on what X is or what X subscribers would get)
- Expand and overhaul Twitter’s payments business to bring in $1.3 billion in revenue by 2028.
Additionally, Musk plans to do the following:
- Increase average revenue per user by $5.29 to $30.22 by 2028
- Hire 3,600 employees
- Raise cash flow to $9.4 billion
Looking at some of these details, it is certainly an exciting plan.
The cut in Twitter advertising is a shock and adds 3,600 employees.
However, the most significant question mark is what is X and what does Musk have planned for it.