Musk is said to be planning to triple Twitter’s revenue

newsletter/APA/Saturday 05/07/22 15:23:41

According to a press report, Tesla CEO Elon Musk wants to significantly increase Twitter sales. The New York Times reported Friday, citing investor documents, that it plans to achieve annual sales of $26.4 billion by 2028, down from $5 billion last year.

APA / APA / GETTY IMAGES NORTH AMERICA / DIMITRIOS KAMBOURIS

According to this, advertising’s share of sales should drop to 45 percent – from 90 percent in 2020 – then twelve billion in sales, with another ten billion dollars coming from subscriptions. The newspaper wrote that cash flow should increase as well – to $3.2 billion in 2025 and then to $9.4 billion in 2028. Musk expects Twitter’s headcount to rise to about 11,100 by 2025, from about 7,500 now. Musk could not be reached for comment, and Twitter did not initially comment.

Musk wants to buy Twitter for $44 billion. Just last week, the US SMS service approved Musk’s acquisition. At the moment, Twitter has about 217 million users.