Twitter Analyst Day Updates: Platform aims to grow its daily users by 20% by 2023

Twitter announced its three-term goals focused on user base and revenue growth as they share updates on Virtual Analyst Day.

Twitter conducted an analyst day, which featured commentary and presentations from the company’s leadership team. As part of the event, management shared updates on new ambitions and long-term targets, along with more details on the company’s strategy to achieve the goals.

The company said it aims to at least double its total annual 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, which is Twitter’s self-invented metric for monetizable daily active users by the fourth quarter of 2023.

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Key Highlights:

• Detailed three-year goal - Double revenue to $7.5B or more in 2023 and gain market share in the $150 billion market for digital advertising. Consistently grow mDAU 20% or more per year, reaching 315M or more mDAU in Q4 of 2023.

• Twitter's revenue strategy - It is centered around investing in the platform's core brand business while making a push to include more performance advertising use-cases, expanding the offerings for small and medium-sized businesses, and maintaining steady contributions from DES and MoPub.

• For yearly growth - The platform intends to grow mDAU 20% or more per year by improving relevance, working across interests, conversations and making Twitter better in emerging markets to help the platform increase its top of funnel and improve retention. Twitter will also aim to advance their work on health across product, policy and enforcement, to keep users engaged and informed.

• Future plans - In order to realize the mDAU and revenue ambitions, Twitter plans to double development velocity by the end of 2023, by ramping investment in their technology and team. This means doubling the number of features per employee, adopting external technology solutions, and increasing the pace of experimentation and learning.