Microsoft reveals LinkedIn premium revenue and the numbers are huge; hint: it's in the billions
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Key notes
- Thanks to new AI job seeker tools, LinkedIn’s premium subscriptions boomed in 2023 with $1.7 billion in revenue.
- These AI features analyze job fit, suggest profile tweaks, and even generate messages to recruiters.
- Premium subscriber base jumped 25% with 90% finding the new AI tools helpful.
LinkedIn revealed impressive growth in its premium subscription service, generating a whopping $1.7 billion in revenue for 2023. Now wonder why X moved into a similar business. For those who don’t know. This marks the first time that Microsoft has disclosed figures for this specific business segment, as revealed by Reuters.
The surge is attributed to a notable rise in users adopting LinkedIn’s new AI-powered features designed to empower job seekers. What does it do though? Well, these tools offer functionalities like analyzing job postings for fit based on resumes, suggesting profile improvements for better visibility to recruiters, and even generating messages to initiate contact.
LinkedIn reports a
- 25% increase in premium subscribers during 2023, with a high user satisfaction rate for the new AI features.
- 70% of subscribers with access to these tools have tried them
- 90% found them helpful, which, for lack of a better word, is – huge
While the job market remains competitive, with LinkedIn data indicating an average of two applicants per position, the platform sees a trend of professionals seeking an edge.
“People are taking charge of their careers, ensuring they have the tools to secure the best opportunities.”
Dan Shapero, LinkedIn’s COO, said in a recent interview.
Do you happen to use premium LinkedIn? Has it been any good to you?
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