LinkedIn increased its revenue over the course of 2024, according to the second-quarter results from Microsoft, which bought the social business-to-business platform in 2016.
Based on Microsoft's report, LinkedIn grew its revenue 9% over the past year, citing growth across “all lines of business,” including Marketing Solutions, Talent Solutions, Premium Subscriptions, and Sales Solutions.
LinkedIn has not reported how much total revenue it made over the past year.
However, while commenting on the Q2 earnings, Microsoft CEO Satya Nadella confirmed that LinkedIn passed a record $2 billion in Premium subscriptions revenue over the last 12 months.
Furthermore, in July, Statista estimated that LinkedIn's annual revenue would amount to over $16.37 billion in 2024, up from $14.9 billion in the 2022 fiscal period, making Premium subscriptions about 13% of the platform's total revenue.
advertisement
advertisement
According to a report by TechCrunch, the overall number of subscriptions has grown about 50% in the past two years. LinkedIn CEO Ryan Roslansky told the news outlet that the company's success in growing its subscriber base is a direct result from a “bet big” on AI tools designed to help subscribers accelerate their needs on the platform.
LinkedIn's newest promotional campaign highlights some of these tools, including an “Audience Network,” “Connected TV feature,” and its new “Qualified Leads Optimization” tool, which invites advertisers to tailor their campaigns to target leads that meet specific marketing or sales criteria.
Last month, the company also explained that marketers can connect their CRM and CAPI [LinkedIn’s conversions API] to share examples of qualified leads, which will be used by LinkedIn’s optimization tool to find similar prospects, promising higher conversion rates and reduced spending waste.
In addition, the company’s Campaign Manager portal now features a “Companies” section designed to help marketers understand how companies are interacting with their brand through engagement levels -- low, medium, high and very high -- with the capability to experiment with various filtering options.
LinkedIn is also capturing more user attention with video content, its fastest-growing element in the app.
The company says its TikTok-like video feed saw a 36% usage increase in 2024, and is now testing a bigger video playback window in the home feed.