According to Pavel Durov, the platform's founder, Telegram will officially become profitable in 2024, generating more than $1 billion in revenue for the first time.
Durobe announced the achievement in a social media post on Dec. 23, marking a pivotal moment for the messaging platform, which has faced persistent financial troubles, accumulating debt and legal scrutiny in recent years.
Durov's arrest in France earlier this year highlighted the growing pressure on the company.
Rapid increase in revenue
Durov highlighted that Telegram's revenue has skyrocketed from $350 million in 2023, reflecting an almost triple increase in the numbers recorded last year.
He attributed the growth to various monetization efforts, including a premium subscription service that was launched two years ago and currently has 12 million active subscribers. Moreover, Telegram has leveraged its large user base to aggressively expand its advertising strategy.
To further drive revenue, Telegram introduced paid content channels, expanded its video offerings, and launched ad-supported experiences. Durov said he expects the company to end the year with more than $500 million in cash, a marked improvement from its previous debt burden, which at one point was close to $2 billion.
A key element in Telegram's turnaround is its cryptocurrency venture. The company used the sale of Toncoin, a digital currency developed within the Telegram ecosystem, to increase liquidity and address outstanding debt.
Durov hinted at deeper cryptocurrency integration within the platform, with potential features such as user-based mining and in-app exchange, which could open up new revenue streams. did.
Regulatory challenges
Despite this financial turnaround, Telegram continues to face increased regulatory scrutiny. Governments and watchdogs, particularly in Europe, Russia and Iran, have long criticized Telegram for failing to prevent illegal activities promoted through its platform.
The app has been implicated in incidents such as child exploitation, drug trafficking, and dissemination of extremist content. Durov was arrested in France in August for failing to comply with deletion requests, but was later released on bail under strict conditions.
To address growing concerns, Telegram has significantly increased its moderation efforts. This year alone, we hired more than 750 content moderators, tasked with monitoring user activity and removing harmful content.
The company said it blocked more than 15 million groups and channels that engaged in illegal activities throughout 2024. Telegram has prioritized eradicating child sexual abuse material (CSAM), terrorist propaganda, and fraudulent schemes from its platform.
mentioned in this article
