In 2024, Telegram achieved profitability for the first time, earning over $1 billion in revenue. This significant growth comes after Telegram’s revenue was only $350 million in 2023, showing a more than threefold increase. Pavel Durov, the founder of Telegram, announced this news on December 23. This milestone is crucial for Telegram as the messaging platform has faced financial troubles, high debts, and legal pressures in recent years. The revenue growth is mainly due to various revenue-generating initiatives, with the most important being the launch of a premium subscription service with 12 million active subscribers. Additionally, Telegram expanded its advertising strategy and leveraged its massive user base. Furthermore, the introduction of paid content channels, video services, and new advertising experiences has been done. Telegram is expected to have cash reserves exceeding $500 million, a significant improvement from its previous debts that once reached $2 billion. One of the main factors contributing to Telegram’s financial improvement is the company’s investments in digital assets. Telegram has used the sale of its digital currency TON to enhance liquidity and reduce debts. Durov has also suggested further integration of digital currencies on the Telegram platform, allowing users to mine cryptocurrencies and create in-app exchanges. However, Telegram still faces regulatory challenges in some European countries, Russia, and Iran due to facilitating illegal activities. Therefore, Telegram has increased its content monitoring efforts and hired over 750 content moderators this year, leading to the blocking of more than 15 million illegal groups and channels.
