FILE PHOTO: Elon Musk attends the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. Patrick Pleul/Pool via REUTERS
BENGALURU: Elon Musk is aiming to increase Twitter's annual revenue to $26.4 billion by 2028, up from $5 billion last year, the New York Times reported on Friday, citing a pitch deck presented by the world's richest man to investors.
Advertising will fall to 45% of total revenue under Musk, down from about 90% in 2020, generating $12 billion in revenue in 2028, while subscriptions are expected to pull in another $10 billion, according to the report.
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