Business

Musk shares post-acquisition plans, thinks he can double Twitter’s revenue from subscriptions by 2028

The Tesla CEO mentioned that he will still graft even harder than them to make the firm a success

May 8, 2022

Elon Musk says Twitter staff may face ‘extreme’ workloads if he takes over

Tech billionaire Elon Musk expects Twitter to earn almost $10 billion in revenue from subscriptions by 2028, a projection that doubles the $5 billion in total revenue the platform made last year, as per a report from The New York Times.

This reportedly includes driving up Twitter Blue subscribers to 69 million by 2025 and more than doubling that number to 159 million by 2028. Musk expects a huge growth in total Twitter users as well, growing from the 217 million users reported last year to 600 million Twitter users in 2025 and, eventually, 931 million in 2028.

Recently, Musk hinted at charging governments and corporations a “slight cost” to use Twitter.

Earlier, Musk had revealed that Twitter will focus deeply on hardcore software engineering, design, and more, following the completion of the acquisition of the micro-blogging site. The Tesla CEO also said that he strongly believes that all managers in a technical area “must be technically excellent”.

Elon Musk has also warned that Twitter staff may face ‘extreme’ workloads if he takes over the micro-blogging platform.

Musk shared his plans for the micro-blogging giant post his acquisition. The Tesla CEO mentioned that he will still graft even harder than them to make the firm a success.

Musk tweeted, “If Twitter acquisition completes, company will be super focused on hardcore software engineering, design, infosec & server hardware.”

If Twitter acquisition completes, company will be super focused on hardcore software engineering, design, infosec & server hardware https://t.co/m2HseK0TXl

— Elon Musk (@elonmusk) May 6, 2022

“Also, work ethic expectations would be extreme, but much less than I demand of myself,” Musk wrote on Twitter.

Also, work ethic expectations would be extreme, but much less than I demand of myself

— Elon Musk (@elonmusk) May 7, 2022

He said, “I strongly believe that all managers in a technical area must be technically excellent. Managers in software must write great software or it is like being a cavalry captain who cannot ride a horse!”

He tagged an article from Fortune, along with one of his tweets that said “Job interest in Twitter skyrocketed more than 250 percent since Musk moved to take over”.

The article says, “While countless Musk fans, and a slight majority of Americans—59%—approve of the takeover according to recent data from The Harris Poll, some current Twitter staff worry that it will dramatically change the company’s culture, and overall direction.”

In its SEC report this week, Twitter said that Musk’s takeover might cost the company advertisers, staff, and users regardless of the outcome of the takeover — if it reaches a final conclusion or if it somehow fails along the way.

The report specifically highlighted the possibility that the company’s current period of uncertainty might lead to issues related to staffing. A consequence of the merger, the company wrote, could be its “inability to attract and retain key personnel and recruit prospective employees, and the possibility that our current employees could be distracted, and their productivity decline as a result.”

[With Inputs from IANS]

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