How Did Telegram Grow Its Revenue So Sharply in 2025?

[kevin1]

Telegram significantly increased its operating revenue in the first half of 2025, reaching $870 million—up 65% year over year. A major driver of this growth came from so-called “exclusivity agreements,” which accounted for roughly $300 million and are closely tied to Telegram’s crypto ecosystem.

These deals are linked to activities around Toncoin, the blockchain project associated with Telegram. While the company continues to diversify monetization through ads and subscriptions, crypto-related arrangements remain a meaningful contributor to its short-term revenue growth.

[ed]

$300m from “exclusivity agreements” sounds vague in a very telegram way