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High Hopes For Twitter As Elon Musk Expects To Earn $10 Billion In Revenue Through Subscriptions Alone

Elon Musk is in charge of Twitter now and as the new owner, the billionaire is laying out his expectations from the platform. And as you can probably imagine, he’s reaching for the skies.

Think along the lines of an estimate of $10 billion as far as revenue is concerned, through subscriptions alone. And he hopes the app can achieve the target well before 2028.

This projection is almost double the amount of revenue that the company made in 2021, as highlighted by The New York Times.

A recent meeting with Musk and his long line of investors paved the way for what many can expect with the new owner in charge. And at the top of the list are the firm’s Blue subscribers, which Musk says could go up to 69 million in just a three-year time span.

He also mentioned how that figure could even double in th amount by 2028, leaving many astounded because that’s a lot of reliance on subscriptions alone. Remember, Twitter Blue only came into effect last year.

At a price tag of $2.99 for a monthly subscription, users will now benefit from the much anticipated ‘edit button’. Other additional perks include customization of the app to their liking and articles without ads, among other notable features.

The Tesla CEO has also expressed with great confidence how he hopes for exponential growth in terms of users of the app. As of now, the platform boasts 217 million but Musk hopes the figures for users will rise to 600 million in 2025. And when it comes to 2028, he hopes to see it grow further to 931 million.

The meeting held with investors and Musk also brought to the spotlight a unique subscription service that is yet to be named. For now, all we know is that it’s out of the classic blue genre and is commonly referred to as ‘X’.

The billionaire hopes this new subscription would draw another 9 million subscribers as early as next year and perhaps even rise to 104 million in the next six years.

Just this past week, the new Twitter owner revealed how he planned on setting up an additional Twitter fee for using the app by both governments and other companies.

While we still don’t know about subscription X, we do know that the revenue collected from that, topped off with that seen in Blue could well cross the mega $10 billion benchmark.

A recent report in The Times highlighted how the platform plans on covering the rest of its revenue goals through ads- an initiative that Twitter hopes can generate $12 billion worth of revenue by 2028.

Let’s not forget how reliant the social networking company has been on ads as the main source of income. However, a recently posted Tweet by Musk revealed how he planned to eliminate ads for all of his paid users. And that further delineated how keen Musk was on making ads just 45%of the company’s main revenue stream.

Other important pointers were taken from the Tesla CEO’s meeting with investors such as how he planned to scoop up $15 million through business payments, further expecting a massive growth of $1.3 billion.

At the moment, Twitter is allowing its users to be gracious enough to leave tips for their favorite creators and engage with eCommerce links that direct them to vendor sites for convenient buys. And this compounded with the fact that Musk is also a co-founder of PayPal means the last initiative has plenty of room for expansion.

The recent article in The Times delineates how enthusiastic Elon Musk is in terms of Twitter and his goals are proof of just that. It also shed light on how the billionaire is looking forward to more experiments such as data licensing where the app’s tweets are sold to firms that take the information and use it for prospective researchers.

But one critic by the name of Nilay Patel said if Musk is really adamant about data licensing, he would really need to alter his company’s ‘terms of service’ and also be willing to incur issues relating to copyrights. After all, these tweets are ultimately the rights of the users that put them up in the first place.

Photo: The Royal Society / Edited by Digital Information World

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