Twitter unveiled its three long-term objectives focusing on customer base and revenue, as well as a faster pace of deploying new products across its platform, just before its 2021 digital investors day. The authority said it aims to “at least” double its total annual twitter revenue from $3.7 billion in 2020 to $7.5 billion or more in 2023. It also expects to reach at least 315 million mDAUs — that’s Twitter’s self-invented metric for “monetizable” daily active users — by the fourth quarter of 2023.
In 2022, there will be 57.5 million People on Twitter in the US, according to recent statistics. They make up 19.1% of all online consumers in that country. In other words, almost one in five persons who access the internet regularly also use Twitter. The number of Twitter users this year is down from 57.8 million users in 2021 by a mere 0.5% year.
In fact, the analysis indicates that between 2021 and 2026, fewer people will be using Twitter. To 56.9 million users in 2023, analysts see a 1% annual decline. This is anticipated to decline by 0.9% in 2024 to 56.4 million, then decline by another 0.5% in 2025. According to experts, there will be 5.9 million fewer People on Twitter in the US in 2026 compared to 2021 (56.1 million).
According to The New York Times, Twitter’s payments operation will generate $15 million in Twitter revenue in 2023 and increase to roughly $1.3 billion by 2028.
Like many social media platforms, Twitter is used by a diverse range of users, from senior internet users keen to track their favorite politicians to female online users still in school. Twitter’s demographics are fascinating, even though there are significantly fewer users than there are on Facebook. Let’s look at some of the statistics of Twitter usage-
- There are 330 Million monthly users.
- According to research, adults in America who use Twitter are 23%.
- Each day, 206 million of such monthly active users log in and can be paid for that, was reported in a study.
- Journalists own about 25% of verified accounts.
- Twitter users who identify as men make up 70%, while female users make up 30%.
- Twitter is used by 79% of users as a news source.
- In the fourth quarter of 2020 and the third quarter of 2021, Twitter’s advertising revenue exceeded $1 billion.
Whatever the case, Twitter’s longer-term ambitions show that the company is confident in its ability to execute on user growth, which its investment may help in new features.
According to Twitter, doubling revenue would increase from $3.7 billion in 2020 to at least $7.5 billion in 2023. By the end of the same year, the company also set a target to double its development velocity, which would include double the amount of features that each employee ships and that directly contribute to mDAUs or revenue.
In its filing, Twitter said it would “double development velocity by the end of 2023,” which means doubling the number of features shipped per employee that “directly drive either mDAU or revenue,” it said.
According to research, Elon Musk bought Twitter on October 27, 2022, and stated that the site should develop into an “unbiased middle ground” for discourse. As a result, the network experienced a substantial rise in hateful speech and racist content.
The accounts of about 877 thousand individuals were terminated. As a result, marketers stopped using the platform out of concern for the security of their brands and to avoid losing customers. According to predictions made soon after the ownership shift, Twitter’s gross ad revenue increase will remain essentially unchanged in 2023 and 2024.
Twitter also set a goal to double “development velocity” by the end of 2023, which means doubling the number of features shipped per employee that “directly drive either mDAU or revenue,” the company said in the filing.
Twitter is still a potent medium for firms to sell on, despite the fall in the number of users in the US. Twitter has the third-highest average daily user time of the top social media platforms in the US, at 34.8 minutes.
