Telegram reached its peak back in 2020 when the platform crossed the billion-download barrier. According to the report, the app generated somewhere nearly seven million dollars in net revenue from both Apple’s App Store and Google’s Play Store. The revenue was generated between June 2022 and December 2022. This was the amount that belonged solely to the application after giving away Google’s and Apple’s share to them.
While Telegram was growing in revenue, Twitter was struggling to keep up due to the events taking place in the company. As a result, by comparing the revenue of both companies, it is visible that Telegram made way more than Twitter. On the other hand, Snapchat, which also launched its Snapchat+ tier, was way ahead of Telegram in terms of revenue. The report says that Telegram’s overall revenue was just insignificantly more than the revenue generated by Snapchat in a single month.
What seems to be the problem for Telegram is that, despite generating revenue, the rate at which the company was growing has stopped going up. Three months after the release of the paid version, the app had a revenue growth of about 67 percent in August 2022. However, by the end of December, the figures had come down to just 12 percent. According to the report, most applications experience a big hit at the start, which gradually comes down with time.
Unlike Snapchat, Instagram offers features that might not be very meaningful but are perfect for the Gen Z audience that uses the application. Telegram needs to come up with something big and useful for the kind of audience that uses the platform. If the company can come up with a new idea and sell it in its paid version, then it might be able to push the growth upwards once again.
Read next: New Data Says More Than 50% Of Twitter’s top Advertisers Weren’t Spending On The App In January
by Arooj Ahmed via Digital Information World
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