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Advertising will fall to 45% of total revenue under Musk, down from around 90% in 2020, generating $12 billion in revenue in 2028, while subscriptions are expected to pull in another $10 billion, according to the report.
The social media company would bring in $15 million from a payments business in 2023, the NYT reported, that would grow to about $1.3 billion by 2028.
Musk clinched a deal last month to buy Twitter for $44 billion in cash, in a move that will shift control of the social media platform populated by millions of users and global leaders to the Tesla (NASDAQ:TSLA) Inc chief.
Musk is expected to become Twitter’s temporary CEO after closing the takeover, a person familiar with the matter told Reuters on Thursday, as the billionaire seeks to add investors to the deal.
Subscription revenue from Twitter Blue is expected to generate $69 million in revenue by 2025, the NYT reported.
Musk could not be reached for comment. Twitter did not immediately respond to a Reuters request for comment.
The newspaper said Musk anticipates he can increase Twitter’s average revenue per user to $30.22 in 2028 from $24.83 last year.
