Twitter saw 74% YoY mDAU growth in India in Q4 2020
Twitter CEO Jack Dorsey shared that one of the company's goals is to reach at least 315 million mDAU in the fourth quarter of 2023
India is a promising market for Twitter and its mDAU (Monetisable Daily Active Usage) grew 74% in Q4 of 2020, Twitter Product Lead Kayvon Beykpour at the Twitter Analyst Day event.
"In order to achieve our ambitions, we need to grow Twitter in developing markets in the world where there are hundreds of millions of potential customers, but where we have very nascent adoption today. Regions like India and Africa are great examples, where we see very promising growth rates. In India for example, we saw 74% YoY mDAU growth in Q4 of 2020. And in Nigeria, we saw 84% YoY mDAU growth," Beykpour said.
To accelerate and capitalise on this growth, Twitter is putting in place in-market product, design, and engineering teams in certain emerging markets. "We expect a meaningful portion of our future growth to come from emerging markets, and that local teams and expertise can help us make this happen faster."
Twitter CEO Jack Dorsey shared the company's three goals to build the company. It plans to double our development velocity by the end of 2023. It also has a goal of reaching at least 315 million mDAU in the fourth quarter of 2023. The company plans to double its annual revenue to over $7.5 billion in 2023.
"First, we plan to double our development velocity by the end of 2023, resulting in doubling the number of features per employee that directly drive either mDAU or revenue. Second, we have a goal of at least 315 million mDAU (Monetisable Daily Active Usage) in the fourth quarter of 2023, which requires continued compounding growth at about 20% per year from the base of 152 million mDAU we reported in the fourth quarter of 2019. And finally, our goal is to more than double our total annual revenue to over $7.5 billion in 2023," Dorsey said.
To achieve this, Dorsey said that the company must gain market share with performance ads, grow brand advertising, and expand our products to small and medium-sized businesses throughout the world solar system. "We’re confident we can hit these goals, and we’re confident they will make us even stronger and more valuable to you, and people around the world."
In his opening remarks, Dorsey said that the platform is aware that there is a lack of belief in Twitter due to three critiques that is it is slow, not innovative, and not trusted. "First, we agree we’ve been slow. If you compare us with our peers in the market, this is especially stark. If you compare us with ourselves over the past few years though, development velocity is demonstrably better. Why?
"We’ve been working ourselves out of a significant deficit for years now. A lot of this was technical, and some of it was incorrect prioritization and how we organized around those priorities. In most cases, we’ve had to take the hard path of prioritizing fewer initiatives and rebuilding from scratch, which is never easy, especially as we have a system at scale which we have to run in parallel. The best example of this work is our decision to rebuild our core ad server. We knew it would take a lot of time, we knew it would block and delay working on our performance advertising products, and we knew it would have to scale well beyond our current traffic."
Twitter also revealed about paid product feature called Super Follows which will allow creators and publishers to earn money directly from their audience. Followers who pay for the Super Follows subscription will gain access to exclusive content, deals and discounts, community access, and more. Furthermore, Twitter is also planning to introduce a new feature called Communities which will allow users to create, discover, and join micro-communities based on their interests.
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