Salem Radio Network News Sunday, May 29, 2022

Science

Musk plans to increase Twitter’s revenue to $26.4 billion by 2028 -NYT

(Reuters) -Elon Musk is claiming that he can 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 around 90% in 2020, generating $12 billion in revenue in 2028 and subscriptions will generate $10 billion, according to the report.

Musk is also expecting $69 million in subscription revenue from Twitter Blue, the NYT reported.

Musk could not be immediately reached for comment. Twitter did not immediately respond to Reuters’ request for comment.

(Reporting by Tiyashi Datta in Bengaluru; Editing by Anil D’Silva)

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