Musk plans to increase Twitter’s revenue to $26.4 billion by 2028 -NYT
2022.05.07 01:21
FILE PHOTO: Elon Musk arrives at the In America: An Anthology of Fashion themed Met Gala at the Metropolitan Museum of Art in New York City, New York, U.S., May 2, 2022. REUTERS/Andrew Kelly
(Reuters) -Elon Musk is claiming that he can increase Twitter (NYSE:TWTR)’s annual revenue to $26.4 billion by 2028, up from $5 billion last year, the New York Times reported on Friday, citing a pitch deck presented by the world’s richest man to investors.
Advertising will fall to 45% of total revenue under Musk, down from around 90% in 2020, generating $12 billion in revenue in 2028 and subscriptions will generate $10 billion, according to the report.
Musk is also expecting $69 million in subscription revenue from Twitter Blue, the NYT reported.
Musk could not be immediately reached for comment. Twitter did not immediately respond to Reuters’ request for comment.
