VKontakte grew to 88.1 million users – VK revenue soared by 21.4% from advertising

Based on the results of the first nine months of this year, the VK technology holding increased its revenue by 21.4% to 109.6 billion rubles compared to the same period last year. The main source of growth was online advertising, revenue from which during the reporting period increased by 19% to 65.9 billion rubles.

Image source: ilgmyzin / unsplash.com

Revenue from online advertising for small and medium-sized businesses increased by 27% from January to September, and the fastest-growing segment continues to be “Technology for Business” (revenue jumped by 60% in nine months). VK’s revenue for the third quarter of 2024 increased to 39.4 billion rubles, which corresponds to an increase of 19% compared to the third quarter of 2023.

According to the results of the third quarter of 2024, the audience of the social network VKontakte, owned by the holding, grew by 3.1 million unique users and amounted to 88.1 million people. Over the same period, another VK-owned social network Odnoklassniki increased its audience by 500 thousand people to 36 million users. The daily audience of the Zen platform averaged 29 million users in the third quarter.

At the same time, the company published indicators of its video services. Thus, the number of views in the VK Video service in the third quarter jumped by 48.% to 2.6 billion views compared to the same period a year earlier. The number of daily views on VK Clips in July-September amounted to 2.5 billion views, which indicates an increase of 2.6 times year on year.