Telegram has revealed impressive financial achievements for 2024, highlighting significant growth across revenue streams, user subscriptions, and innovative monetization strategies. The platform announced annual revenue exceeding $1 billion, alongside cash reserves surpassing $500 million, excluding its cryptocurrency holdings.
Telegram is now profitable 🏆
📈 This year, the number of Telegram Premium subscribers tripled, exceeding 12 million. Our ad revenue also increased a few times. Telegram’s total revenue in 2024 surpassed $1 billion, and we are closing the year with more than $500 million in cash…
— Pavel Durov (@durov) December 23, 2024
Telegram’s financial growth has energized Toncoin (TON) holders. Interestingly, TON, the native cryptocurrency of The Open Network, a layer-1 blockchain introduced by Telegram in 2017, has seen increased activity and adoption.
Telegram’s Financial Success
A substantial factor in Telegram’s financial success was the rapid increase in Premium subscriptions. The platform reported a threefold increase in premium users throughout the year, with over 12 million subscribers by year-end. Advertising revenue also rose significantly, further contributing to the platform’s profitability.
In addition to growing its revenue, Telegram has made strides in addressing its financial obligations. The company, which issued approximately $2 billion in debt over the past four years, repaid a significant portion of its bonds during the fall, leveraging favorable market conditions. Despite these repayments, Telegram acknowledged the need for continued efforts to manage its remaining debt.
Telegram attributed its success to several new monetization tools introduced during the year. Features like Stars and Gifts have enhanced user engagement, with Gifts enabling the sharing of paid subscriptions. Meanwhile, Giveaways incentivized participation, and Mini Apps provided developers with tools to create applications within the Telegram ecosystem. Introducing Telegram Gateway, Telegram Business, and the Affiliate Platform also expanded opportunities for creators and businesses.
TON Thrives Amid Telegram’s Ecosystem Growth
Toncoin, closely tied to Telegram’s ecosystem, has benefited significantly from the platform’s developments. According to a report by blockchain analytics firm IntoTheBlock, Toncoin saw remarkable user activity in 2024, driven by the adoption of mini-apps within Telegram. By mid-year, the number of daily active users on the TON blockchain exceeded 5 million.
The network has over 104.67 million total addresses, with 773,640 active addresses. Additionally, 198,720 new addresses were added, while 27,690 zero-balance addresses were recorded. According to CoinGecko, TON has experienced a slight increase of 0.4% in the past day and is currently trading at $5.39. Despite this, the price remains 34.78% below its all-time high of $8.25.
Cynthia Ezirim | December 23, 2024
Lucky Ebosele | December 23, 2024
