Twitter aims to double revenue by 2023
Twitter wants to double its annual revenue to $7.5 billion by the end of 2023. The number of daily users the service reaches with its advertising is expected to increase from 192 million at last count to 315 million by then.
Twitter set the targets on Thursday to an investor event. They were well received on the stock market: Twitter shares were up seven percent at times in early U.S. trading. Last year, Twitter had increased revenue by 7.5 percent to 3.7 billion dollars (just over three billion euros).
Twitter generates almost all of its revenue from advertising. This can be, for example, the ability to put tweets with product ads in users' timelines for money. The ads are displayed in the web version and Twitter's own app. Therefore, the company has moved to mentioning only the number of users that can be reached with ads as a relevant figure. The service is also considering subscription business models. According to media reports, for example, a paid version of the Tweetdeck app aimed at professional users could be introduced.
When presenting its latest quarterly figures, Twitter had already emphasized that the banishment of ex-US President Donald Trump from the platform at the beginning of January had not slowed down growth. This had been feared, as Trump was one of the best-known Twitter users with around 80 million subscribers. He was permanently suspended from Twitter after his supporters attacked the U.S. Capitol and his expressions of sympathy for the attackers. (SDA)
