Elon Musk plans to double revenue for Twitter with the introduction of its subscription plan. After he took over as owner of Twitter, he announced various changes that would be coming to the platform. And also some of the expectations for Twitter in years to come.
He mentions that Twitter would have earned $10 billion in revenue from its subscription in 2028. That is a plan that would double the revenue the platform had made last year.
Last year, after Jack Dorsey stepped down as CEO, Twitter made a total revenue of $5 billion.
Elon Musk has been giving investors a series of what to expect from his takeover and this is just one of them. He mentions his plan to grow Twitter users from 217 million users to 600 million users in 20215.
And by 2028. it has plans to grow its users to 931 million.
Also, Elon plans on driving Twitter Blue subscribers to 69 million in 2025.
And by 2028, it would drive the number of subscribers to 159 million.
Twitter Blue subscription
Last year, Twitter launched its Twitter Blue subscription which allows users to pay for subscription services and gain access to some of its limited features. Features like the “undo tweet” button, app customization, ad-free articles and others. The subscription service cost $2.99 monthly.
Another revenue generation plan by Elon Musk
Asides from the Twitter Blue subscription, Elon had mentioned it would be introducing a new subscription.
And from reports, Elon expects it to bring in nine million subscribers in 2023 and then 104 million subscribers in 2028.
This hints that the combination of the Twitter Blue subscription and the new subscription Twitter is looking to launch would contribute to doubling Twitter’s revenue from $5 billion to $10 billion in 2028.
Another means Elon is looking to consider for Twitter to earn more is through ads.
He has predicted that the platform would earn about $12billion in ads by 2028.
Previously, Twitter had relied solely on ads as its primary revenue income before it started bringing other updates.
It seems that Elon is ready to keep the ad revenue generation plan.
Also, payment businesses like Twitter’s ‘tip creators’ and ‘super follows’ that allow creators to be paid on Twitter, would be able to rake income to generate to $1.3 billion by 2028.
Elon is also considering data licensing as an additional way of generating more revenue for the company.
They would be able to sell daily tweets to companies and developers to analyze them for data resources.
To make all this work, Twitter will need more hands-on deck.
And so it has decided to employ about 3,600 employees to join the company.
How does this affect Twitter?
Twitter has always been looking for more ways to generate revenue asides from its ads.
And this was one of the reasons the board as issues with Jack while he was CEO.
However, with Elon taking the place of the founder with the highest stake in the company, he can bring a lot of change to the company.
Referring to some of his plans for Twitter, Elon is set to create massive revenue for Twitter.
And it means he wouldn’t be having troubles with the board anytime soon.
How does this affect users?
It means that Twitter would no longer be free for users.
As they would have to start paying on a subscription basis to maximize the amazing services and feature it would be rendering.
Also, this might serve as a limitation to what the platform initially stands for ‘free speech’.
If some of the features can only be accessed by users who pay for subscriptions then it makes Twitter limited.
And Twitter hasn’t given some of the features that would be under the new subscription plan Elon would be bringing.
If a feature like an edit button is under the subscription plan, it would make more people want to pay for it.