Telegram instant messaging reaches a major milestone in its history by becoming profitable for the first time since its creation. With revenues exceeding a billion dollars in 2024, almost triple compared to 2023, the application led by Pavel Durov confirms its rise to power despite numerous controversies. An important turning point for this competitor to WhatsApp and iMessage which now has nearly a billion active users.
Encouraging financial results despite turbulence
The year 2024 marks a turning point for Telegram with historic financial performance. The application displays more than $500 million in cash, not including its cryptoasset reserves. This success is explained in particular by the success of its Premium offering which now has 12 million paying subscribers, as well as its advertising revenues estimated at around $500 million according to the New York Times.
The platform was also able to take advantage of the rise in cryptocurrencies to repay a significant part of its debt of $2.4 billion contracted in 2021. “We took advantage of the favorable prices of Telegram bonds, but there is still a long way to go. to do,” said Pavel Durov on X (formerly Twitter).
Reinforced moderation in the face of controversies
This economic success comes in a delicate context for Telegram. The arrest and indictment of Pavel Durov in France in August 2024, in connection with illicit activities on the platform, pushed the company to review its moderation strategy. The application has thus considerably strengthened its moderation teams, which now number more than 750 contract workers.
The messaging service faces criticism regarding the dissemination of illegal content and disinformation. To answer this, Devon Spurgeon, spokesperson for Telegram, emphasized:
We only provide users with content they subscribe to and offer a verification system to identify official channels. We do not use algorithms that favor sensational content.
This new approach, stricter in terms of moderation and cooperation with the authorities, seems to be bearing fruit with advertisers, even if some major brands still remain reluctant to associate with the platform.
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