Twitter new owner Musk, increases its annual revenue to $26.4 billion by 2028, making the advertising revenue very less

 

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The New York Times reported on Friday that Musk told investors that he would increase Twitter's annual revenue to $26.4 billion by 2028. It’s worth mentioning that Twitter’s revenue last year was only $5 billion.

Under Musk, advertising will account for 45% of total revenue, down from around 90% in 2020, and will generate $12 billion in revenue by 2028, while subscriptions are expected to add another $10 billion, the report said.

In addition, Musk expects Twitter Blue paid subscription revenue to reach $69 million. He expects he can increase Twitter’s per capita income from $24.83 last year to $30.22 by 2028. According to the New York Times, Twitter will generate $15 million in revenue from payments in 2023 and will grow to about $1.3 billion by 2028.

Musk reached a Twitter acquisition deal for $44 billion in cash last month, and Musk’s goal is to make it an open, free speech platform. Musk, who is expected to become Twitter’s interim CEO after the acquisition, is trying to add investors to the deal, a person familiar with the matter told Reuters on Thursday.

The New York Times could not reach Musk, and Twitter did not immediately respond to Reuters’ request for comment.