Yet another veteran CEO is unsure about what Elon Musk wants to do with Twitter if he manages to close the deal for the popular social media platform.
“I am a little puzzled,” S4 Capital founder and chairman Sir Martin Sorrell
“I am a little puzzled,” S4 Capital founder and chairman Sir Martin Sorrell told Yahoo Finance Live at the World Economic Forum. He talked about what would happen if Musk made Twitter less reliant on ad revenue.
“I didn’t quite follow the logic there,” Sorrell said. “But of course, if you have… a free speech network platform, clients are very worried about brand safety and having their advertising positioned against controversial content. So it will make advertisers more concerned about a platform that is more open and less controlled or less editorially controlled than it should be.”
Sorrell thinks that Twitter’s ad business is at risk even if Musk decides to move away from ad revenue because the platform would be more open to controversial voices.
Musk aims to quintuple Twitter’s sales to $26.4 billion by 2028 with the help of 931 million users once he pushes a subscription model. This information comes from a pitch deck seen by the New York Times.
Twitter might bring in $1.3 billion from a not-yet-released payments business by 2028, a gigantic jump from $15 million in 2023, as a result of Musk’s plan. Musk also wants to have 11,072 employees at Twitter by 2025 compared to approximately 7500 employees today.