I've been looking at X's and Snapchat's revenue for months as they are the early adopters of charging in social media, but there's another platform you may not think about that's charging their users - LinkedIn.
Although LinkedIn didn't start as a social platform, in 2024, it most definitely is. You can do everything you can on X on LinkedIn - From posting to live videos - all with an algorithmic feed that rewards engagement.
What you may not know about LinkedIn is that right now, it's earning more than X and Snapchat. This year, LinkedIn earned more than X and Snapchat combined!
That's right, Microsoft's "professional" platform is beating all other platforms right now and the trend is in LinkedIn's favor.
What's the key to LinkedIn's success? Sell stuff people actually need.
And this isn't a new trend. In the first quarter of 2021, our estimates show LinkedIn brought in $20M in net revenue from the App Store and Google Play. Net means what Microsoft, LinkedIn's owner, gets to keep after store fees.
Estimated net revenue rose to $36M by the first quarter of 2022 and a whopping $91M by the first quarter of 2023!
Q1 of 2024 was LinkedIn's biggest in terms of revenue. Our estimates show LinkedIn earned $119M!
X and Snapchat also had their best quarterly revenue ever in 2024. Our estimates show X added $23M and Snapchat $67M of net revenue in the quarter. Impressive growth for Snapchat for sure. Still lower than LinkedIn - even if you add up the two.
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