The Future of Twitter Under Elon Musk
Exploring the Changes, Plans and Growth Strategy
Twitter has been an indispensable part of our virtual world, offering us a platform to express our thoughts, share information, and connect with others. With 237.8 million monetizable daily active users, Twitter is one of the largest and most influential social media platforms in the world. But despite its significance, Twitter has faced financial difficulties, making a loss in six of the past eight years.
Enter Elon Musk, the visionary entrepreneur who took over Twitter in 2021 with big plans for the platform. After a series of cost-cutting measures, including laying off 75% of its employees, Twitter is on a path to profitability. But what exactly does Elon have in store for Twitter's future?
Five ways Elon has changed Twitter:
Blocking alternative ways to view Twitter
Improved Curation
Reinstated formerly blocked accounts
Twitter Blue with an edit button and fewer ads
Silver and gold ticks
Elon's Revenue Plans:
Quintuple revenue to $26.4 billion by 2028
Reduce reliance on advertising to 45% of total revenue
Produce $15 million in revenue from a payments business
Increase average revenue per user by $5.39
Reach 931 million users by 2028
In his pitch deck, Elon claims he will increase Twitter's annual revenue to $26.4 billion by 2028, up from $5 billion last year. He intends to reduce Twitter's reliance on advertising to 45% of total revenue and make $15 million from a payments business in 2023. Additionally, he believes that the average revenue per user on Twitter can increase to $30.22 in 2028 from $24.83 in the previous year.
Finally, Elon predicts that the number of Twitter users will increase from 217 million to almost 600 million in 2025 and to 931 million in 2028. This growth will mainly come from Twitter's ad-supported business, including Twitter Blue, where users pay $3 a month for a personalized experience. He predicts that by 2025 there will be 69 million Twitter Blue users and 159 million in 2028.
In conclusion, Elon's vision for Twitter is ambitious, but given his track record of success, it's not hard to see why many are optimistic about the platform's future. With a renewed focus on revenue, user growth, and innovation, Twitter is set to be a leader in the social media landscape for years to come.