It’s been a rollercoaster ride for the popular messaging platform Telegram.
At one end of the spectrum, reports about the app’s CEO getting arrested in France took center stage last weekend. On the other end, the messenger app just saw a massive growth in revenue last July, signaling the most revenue ever made in a single month.
Thanks to App Intelligence by Appfigures, the revenue growth throughout 2024 stagnated. It averaged a little more than $5 million each month. However, March is when we really saw the ball rolling in the right direction with a slight spike. But that did not last long.
In July, the app’s revenue struck close to $7.4 million. This is the most revenue generated by any messaging platform to date but also the record for the single largest app increase in just a one-month timeframe.
The news comes after we saw X and Snapchat make big moves to generate revenue through monetizing users. Remember, Telegram’s ability to produce revenue through users is certainly strong and while it’s not in comparison to that seen with X and Snap, it’s a win situation for Telegram. In our eyes, the growth is equivalent but the question is for how long can this popular messaging platform sustain growth.
While France’s President denied any political motives behind the arrest of the app’s CEO, critics feel otherwise. The app has been called out for participating in illegal acts due to a lack of moderation. While Telegram denies any of these reports, it seems to be a matter of concern.
We don’t see this taking a direct toll on the app’s demand or revenue-generating capabilities but we do feel it’s going to be an interesting episode as investigations continue.
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