Telegram officially became profitable in 2024, generating over $1 billion in revenue for the first time, according to the platform’s founder, Pavel Durov.
Durove posted the news on social media Dec. 23. This marks a turning point for Durove, a messaging platform that has been facing persistent financial problems, debt accumulation, and legal scrutiny over the past few years.
Durov’s arrest in France earlier this year underscored the mounting pressure on the company.
Revenue surge
Durov emphasized that Telegram’s revenue surged from $350 million in 2023, reflecting a nearly 3x increase from the numbers recorded last year.
The growth was attributed to a variety of monetization strategies, such as a subscription-based premium service that launched in 2012 and now boasts 12 million subscribers. Telegram’s advertising has also been aggressively increased, taking advantage of its large user base.
Telegram launched paid-content channels to boost revenues. It also expanded its video service and introduced ad supported experiences. Durov said that Telegram expects to end the year with a cash reserve of more than $500 million. This is a significant improvement over its previous debt load, which was at one time approaching $2 billion.
A critical factor in Telegram’s financial rebound has been its crypto ventures. Toncoin is a digital coin developed by Telegram to help improve liquidity.
Durov suggested that the platform could include features such as user-based crypto mining and in app exchanges which would unlock new revenue streams.
The regulatory challenges
Telegram is still under intense regulatory scrutiny despite its financial turnaround. Telegram’s failure to stop illicit activity through its platform has long been criticised by government and watchdog agencies in Europe and Russia.
It has also been used in cases that involve child exploitation, drugs trafficking and spreading extremist content. Persistent non-compliance with takedown requests contributed to Durov’s arrest in France in August, though he was subsequently released on bail under strict conditions.
Telegram’s moderation team has increased its efforts to address the growing concern. In the past year, over 750 content moderation staff were employed to oversee user activity and delete harmful content.
The company claims that more than 15,000,000 channels and groups engaged in illegal activity will be blocked by 2024. Telegram prioritizes the removal of child sexual abuse materials (CSAM), terror propaganda and fraudulent schemes.
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