A few days ago, soon-to-be Twitter owner Musk casually said that the service might have a fee for some users.
It sounds almost inconsequential, but it appears that Musk's plans for that future arm of Twitter are bigger than it seems. According to The New York Times, which has obtained Musk's pitch deck for investors, Musk has an incredibly ambitious plan for the next couple of years.
Musk plans to increase the annual revenue of the company to $26.4 billion by the year 2028, up from $5 billion in 2021. By the end of 2021, he plans to have 931 million users, up from 217 million at the end of last year, with average revenue per user increasing to $30.22, up from $24.83 last year.
Advertising makes up 90 percent of the company's revenue. Musk plans to generate $12 billion in revenue from advertising and $10 billion from subscriptions by the end of the decade.
This could mean a huge change to how the micro-messaging service works. The basic version of the service is free for everyone, even though the company has an experimental paid version. Musk thinks that businesses and governments will see enough value in the platform to pay a fee to use it. All of the major competitors are free, but make the bulk of their money in advertising.
According to The New York Times report, Musk plans to have 104 million subscribers to his new product by the year 2028.
The total number of employees will decline from 9,225 in 2022, to 8,332 in 2023, with Musk planning to fire some employees next year. The total number of employees will be 11,072 by the year 2025.
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