He had been described as a man who cared little for the profitability of Twitter, which bought the social network not to make money, but to end its censorship, strengthen freedom of expression and open the algorithm of the social network. But Elon Musk remains a businessman first and foremost. As proof: a presentation that the whimsical billionaire would have made to reassure investors. The richest man on the planet would have commented on a specific financial plan and described a grandiose future for Twitter, the social network bought for some 44 billion dollars, explains the New York Times in an article on Friday, May 6. Key info: Elon Musk aims to grow Twitter’s annual revenue from $5 billion to $26.4 billion by 2028, a fivefold increase.
To do this, the whimsical billionaire would diversify the current economic model of Twitter, which is based almost exclusively on advertising revenue, by acting on two levers. He would first develop the social network’s subscription offer, whose revenues could reach 10 billion dollars, he says. So far, Twitter has only offered one subscription at three euros per month, Twitter Blue, set up in 2021 in the United States. Revenues from this premium subscription service are expected to reach 69 million users by 2025, and 159 million in 2028, according to Space X boss estimates reported by The New York Times.
Mysterious subscription “X”, payment activity
In this document, Elon Musk would also list a new subscription, called “X”, which would be created in 2023 and which would have 104 million users in 2028. It could be an ad-free subscription. Second lever to get out of the all-advertising model: Musk plans to develop a payment activity in 2023, which is still in its infancy today, and which would reach around 1.3 billion dollars in 2028. Enough to pass Twitter’s average revenue per user at $30.22 in 2028, compared to $24.83 in 2021, details the New York Times. He also expects Twitter to have 931 million users by 2028, up from 217 million in 2021.