Recently, Twitter captured the limelight as it abruptly changed its ownership. Elon Musk became Twitter’s largest shareholder at the beginning of April. Even though he was offered a board seat, Elon raised a lot of questions about how Twitter runs the platform. By the end of April, Twitter agreed to sell the platform to Elon Musk.
Elon Musk announces a big plan for Twitter. As the celebrity billionaire now seeks co-investors to take over Twitter, he is set to quintuple Twitter’s revenue to $26.4 billion by 2028. He also aims to hit 931 million monthly active users within the same timeline. Next year, he plans to launch a new Twitter subscription called “X.” There is no hint about it, but reports showed that it is expected to gain 9 million subscribers.
Twitter employees are also now alarmed as Musk wants to focus first on job cuts and monetization. Although there are plans to increase Twitter’s manpower, quality is the main priority in future hiring.
Elon Musk announces a big plan for Twitter on 09 May 2022.
Implications to Marketers:
Elon Musk may have lofty goals as he takes over Twitter. But given his proven track record to turn companies into major financial successes, marketers should keep a positive mind about leveraging Twitter ads and campaigns.
