Telegram turns profitable for first time – Durov

Popular messenger Telegram has achieved over $1 billion in revenue during 2024, marking its first profitable year since introducing monetization, company co-founder and CEO Pavel Durov announced on Monday on his Telegram channel.

The company’s financial growth has reportedly been driven by a surge in Telegram Premium subscribers and strong advertising performance.

“It has been a very successful year for Telegram. We have turned a profit for the first time in three years of being monetized,” Durov stated.

According to him, the number of premium subscribers tripled in 2024, exceeding 12 million, and advertising revenue grew significantly, contributing to the milestone. These gains helped Telegram close the year with over $500 million in cash reserves, excluding crypto assets, he added.

The Telegram CEO says the company has also worked to reduce its financial obligations.

“Over the past four years, Telegram has issued about $2 billion in debt. We repaid a meaningful share of it this Fall, taking advantage of favorable prices for the Telegram bonds,” Durov said, adding there is still substantial work to be done to sustain and build on this progress.

Despite these achievements, Telegram has faced legal challenges. In August 2024, Durov was detained after landing at a Paris airport and released on bail several days later. He faced 12 charges, including complicity in distributing child pornography, drug dealing, and money laundering. The allegations arise from claims that Telegram’s supposed lax moderation rules have enabled the rampant misuse of its messaging service.

Telegram’s popularity continues to grow as the app maintains free services for users. In July, Durov announced that the messenger had reached 950 million active users and aims to surpass one billion by the end of the year.