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 announced the achievement in a social media post on Dec. 23, marking a pivotal moment for the messaging platform, which has faced persistent financial challenges, accumulating debt, and legal scrutiny in recent 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.
He credited the growth to diverse monetization initiatives, including a premium subscription service launched two years ago that now has 12 million active subscribers. Additionally, Telegram has aggressively expanded its advertising strategy, leveraging its massive user base.
To further boost revenue, Telegram introduced paid content channels, expanded video services, and launched ad-supported experiences. Durov highlighted that the company expects to close the year with cash reserves exceeding $500 million, a notable improvement from its prior debt burden, which at one point approached $2 billion.
A critical factor in Telegram’s financial rebound has been its crypto ventures. The company capitalized on the sale of Toncoin, a digital currency developed within the Telegram ecosystem, to improve liquidity and address outstanding debts.
Durov hinted at deeper crypto integration within the platform, with potential features including user-based mining and in-app exchanges, which could unlock new revenue streams.
Regulatory challenges
Despite this financial turnaround, Telegram continues to face heightened regulatory scrutiny. Governments and watchdog agencies, particularly in Europe, Russia, and Iran, have long criticized Telegram for failing to prevent illicit activities facilitated through its platform.
The app has been implicated in cases involving child exploitation, drug trafficking, and the dissemination of 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.
To address growing concerns, Telegram has significantly ramped up its moderation efforts. Over 750 content moderators were hired this year alone, tasked with monitoring user activity and removing harmful content.
According to the company, more than 15 million groups and channels engaged in illegal activities were blocked throughout 2024. Telegram has prioritized eradicating child sexual abuse material (CSAM), terrorist propaganda, and fraudulent schemes from its platform.
Mentioned in this article
Source: https://cryptoslate.com/telegrams-4x-yoy-subscriber-growth-pushes-platform-to-profitability/