Elon Musk’s pitch to investors: 69 million Twitter Blue users by 2025
Musk’s pitch deck expects Twitter to have 931 million active users by 2028
Rocket fueled user growth
931 million. That’s Musk’s target for user numbers by 2028. That’s huge by any measure. But for reference, let’s take a look at the current numbers for Twitter.
The company’sQ1 2022 resultssuggest it has 229 million daily active users (DAUs) with a growth of 15.9% year-on-year. Even if this growth rate continues, Twitter will only hit 550 million users by 2028.
The company will have to grow its user base at an annual rate of 26% year-on-year from now on to reach the mark of 931 million.
That’s a tough ask, given platforms like Facebook and Netflix are finding it hard to increase their audience. Even Snap, a company that’s doing better than Facebook and Twitter,grew its user numbers by only 18% in Q1 2022.
What’s more, since it’s a Musk pitch deck, there’s a 69 (million) joke in there. That’s the number of paying users he’s targeting by 2025.
Lofty revenue goals
Musk’s pitch deck aims to get Twitter to reach a yearly revenue figure of $26.8 billion by 2028. For comparison, the company’s revenue last year was $5 billion.
The former PayPal CEO wants Twitter to stop relying entirely on ads for revenue. He wants these to account for $12 billion by 2028 — almost 45% of the revenue. Currently, it representsroughly 90% of the company’s business.
The NYT report notes that Musk expects $10 billion in revenue from subscriptions by 2028. He also wants payments — offerings like shopping and tipping creators — to generate $1.3 billion by that time.
Everything else
There are a few other things Musk wants to do with Twitter’s business, but the details are a bit hazy at the moment:
All of these goals are incredibly ambitious, and it’ll require a radical shift at Twitter to achieve them. There are many roadblocks ahead, like international laws, and increasing regulation over big tech companies all over the world to achieve sustainable growth.
You can read the full NYT reporthere.
Story byIvan Mehta
Ivan covers Big Tech, India, policy, AI, security, platforms, and apps for TNW. That’s one heck of a mixed bag. He likes to say “Bleh.“Ivan covers Big Tech, India, policy, AI, security, platforms, and apps for TNW. That’s one heck of a mixed bag. He likes to say “Bleh.”
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