Musk has big plans for the short message service.
New York, Dusseldorf Tesla CEO Elon Musk wants to significantly increase Twitter’s sales, according to a newspaper report. He plans to have an annual turnover of 26.4 billion dollars by 2028, after five billion dollars last year, the “New York Times” reported on Friday, citing documents for investors.
According to this, the advertising share of sales should fall to 45 percent from 90 percent in 2020 and then bring twelve billion in sales, another ten billion dollars should come from subscriptions. Cash flow should also increase to $ 3.2 billion in 2025 and then to $ 9.4 billion in 2028, the newspaper wrote.
The Tesla CEO is also said to want to increase sales per user – an important key figure for social media companies. This is expected to rise from $24.83 last year to $30.22 in 2028. It is striking that the information on the total number of users contains subscribers for a new product under the name “X”.
He wants to get 104 million users in this product by 2028. It is not clear in the documents what this is about, but Musk is probably planning an ad-free Twitter version, reports the “New York Times”. Musk also expects the number of Twitter employees to increase from the current 7,500 to around 11,100 by 2025. Musk was unavailable for comment, and Twitter did not immediately return a request for comment.
The richest person in the world wants to buy Twitter for $ 44 billion. Just last week, the US short news service had agreed to the takeover by Musk. At the moment, Twitter has about 217 million users.