When thinking of "social networks" you might think about Instagram, X, or even Facebook. Maybe even SnapChat and, most likely, TikTok. One name that doesn't pop into most people's heads when thinking about a social media network is LinkedIn
But it is...
Over the last few years, LinkedIn has grown from a place to post your resume and suit picture to a vibrant social platform with an algorithmic feed and many active users who aren't on the platform to upload a resume but rather share things like they would on any other platform, just a bit more professional.
That bit might seem like an important piece of information and you might even think it makes LinkedIn a "secondary" platform where people also post. But that isn't the case, and looking at its performance makes it clear that social media platforms are mostly mutually exclusive - active users tend to be active on one and not many.
That has helped LinkedIn's revenue rise nearly 600% since 2020. In more absolute terms, LinkedIn brought in more than a half billion dollars of net revenue - what's left after Apple and Google take their respective cuts - in 2024, according to our App Intelligence.
According to our estimates, LinkedIn ended 2024 with $506M of net revenue (roughly $722M of gross revenue), up $122M from 2023. The 32% increase is a result of growing demand for the platform's Premium tier, and that's not surprising because we've now seen it across all social media platforms.
Except, LinkedIn seems to know how to monetize its users better than all other platforms except for TikTok.
LinkedIn consistently beat every other competitor, including X, Instagram, Facebook, and Snapchat on monthly revenue, and not just in the US, where most of LinekdIn's revenue comes from but rather globally.
Microsoft knew what it was doing by acquiring this "sleeper" network and if you're servicing the professional market, you should be leveraging LinkedIn to your advantage just like consumer apps are using TikTok.
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