For the first time, the most important social network for professionals has revealed the weight of what some of them pay to have greater benefits of visibility of their profiles or contact with other users. LinkedIn has reported that in 2023 it billed $1.7 billion through premium subscriptions, which represents 11% of the $15 billion in total revenue it had previously made public. Until now it had only detailed that 7,000 million of that figure corresponded to the hiring capabilities it offers to recruiters.

It is unusual for the platform to reveal data of this type since it was acquired by Microsoft in 2016. In the quarterly results of this technology giant there is usually little information about its performance, beyond general notes. LinkedIn accounted for a relatively small part of its turnover, which was close to $212 billion in the reference year, and also added almost 1,400 layoffs in that period. These circumstances help explain why the company aims to expand the business linked to these recurring user payments, who in Spain can choose between four plans starting at 39.99 euros per month.

For this reason, it has been implementing artificial intelligence in recent times to make these subscriptions more attractive with improvements that speed up the search for vacancies or the process of applying for them. This contributed to an increase in the paying user base by 25% in 2023, as recently indicated by its director of operations, Dan Shapiro, who also specified the percentage of the total that has tested these functionalities at 70% and at 90%. those who have found them useful.

     Recurring user payments accounted for around 11% of the platform's total revenue, which tries to boost it through artificial intelligence.

The executive explained in that same interview that economic uncertainty and its effect on the labor market drive the arrival of new subscribers. All of them want to ensure that they can compete for a better job or to replace the one they have lost in rounds of layoffs like those that have occurred in recent months at technology companies. Thus, the incentive to publish content and to be noticed in professional debates increases, thereby increasing the recurrence of visits and the time spent on each of them.

These factors enhance the growing critical mass of qualified profiles with valuable data for advertisers and have a direct impact in favor of the platform's advertising business, where prices have also risen because some companies are reallocating budget there that they previously allocated to X. According to the latest data provided by LinkedIn, it currently has more than 2,000 million registered users in more than 200 countries, although it does not specify how many of them are active on a daily or monthly basis as other platforms such as Facebook have been doing for a long time.

https://dircomfidencial.com/marketing-digital/el-negocio-de-suscripciones-premium-de-linkedin-alcanzo-los-1-700-m-en-2023-20240311-0401/