Is Discord Profitable 2024?

According to the latest reports, Discord users interact with the platform at least 6 times a day. And as of January 2024, it has more than 560 million users. Now if all this data is making you wonder: Is Discord Profitable 2024? Then you are absolutely at the right place.

Is Discord Profitable

Seeing the popularity of the platform, many people often have this question, and today, we are going to unravel this mystery in this article.

Therefore, to get every detail of your favorite communication platform, keep reading this article.


What Is Discord?

Discord is a text, video chat, and voice platform. It was founded in 2015 by founder Jason Citron. Through the use of servers, Citron made Discord an app that is more than just a text or audio chat service.

It was initially built to help gamers chat and live-stream; now, the platform has been embraced by many communities. These communities are called servers.

Each server contains voice and text channels where the users can chat and share various content. This app can be easily on desktop and mobile phones or can be used on web browsers.

It recently changed its motto from “Chat for Gamers” to “Chat for Communities And Friends”.


How Does Discord Work?

How Does Discord Work

Discord allows users to set up servers where they can attract an audience for streaming online events. These servers act as community hubs, displaying the content on the server.

The app also enables the community to chat with each other during the online event. Users can join up to 100 servers, accessing the public ones with the links and receiving invitations for the private ones.

Many people have the misconception that Discord is only for gamers. However, users can streamers can start a community on whatever they like, such as yoga clubs, dance clubs, or even book clubs.


How Does Discord Makes Money?

Discord uses a freemium model to grow its business, in which its core platform is free to use. It also makes money from subscriptions, server boosting, fees from game sales, and memberships.

However, by using its freemium model, it is able to grow its business at an increasing rate. As a result, many companies like Adidas are also using Discord to communicate with their customers.

Let’s take a closer look at how Discord makes money:

1. Subscriptions

The largest portion of Discord’s revenue is derived from its premium subscriptions, such as Nitro. The plan costs $9.99 per month or $99.99 per year. It also has an alternative version by the name Nitro Classics and is available for $4.99 per month or $49.99 per year.

Nitro also comes with the following benefits:

  • the option to custom the animated emojis
  • Upload bigger file sizes up to 100 MB
  • Custom tag and an animated avatar
  • High-resolution screen share and Go live streaming
  • Two server boosts and 30% off on buying an extra server.

2. Server Boosting

Server boosting involves improving the functionality and performance of Discords servers at an additional fee.

There are three levels through which users can boost the performance of their servers, and each level comes with its own perks:

Level 1Level 2Level 3
+50 Emoji slots (100 emojis)+50 Emoji Slots (150 Emojis)+100 Emoji Slots (250 Emojis)
128 Kbps Audio Quality256 Kbps audio quality384 Kbps audio quality
Go live streams boosted to 720P 60FPS50 MB upload limit for all members(servers only)100 MB upload limit for all members (servers only)
Custom ServerGo Live streams boosted to 1080P 60FPSVanity URL
Invite Background Server Banner+everything from level 1 and level 2
Animated Server Icon+everything from level 1

3. Game Sales & Membership Fees

In 2018, Discord launched its own game store, which allowed its Nitro subscribers to get access to Discord-exclusive games.

It also launched a new model in which game developers can sell games exclusively on their servers. The developers first need to get their servers verified, and then Discord will promote the game and the server on its platform.

As a result, Discord makes money every time the game gets sold. It takes 10% off each sale.

4. Funding

According to the reports, Discord has raised a total of $995.4 million across 16 rounds of venture funding. Some of the notable funders of Discord are:

  • Sony
  • Index Ventures
  • Greenoaks Capital,
  • Dragoneer Investment Group
  • Arcane Group
  • Coatue
  • Flat Capital

How To Make Money On Discord?


Is Discord Profitable 2024?

Discord is a versatile communications system used by many users across the world. However, how profitable the platform is can only be founded by the valuation and the revenue it generates.

Therefore, below is the table representing the net worth and revenue of Discord throughout the years:

Net Worth Of Discord

YearValuation
2022$10 billion
2021$14.7 billion
2020$7.3 billion
2019$2.5 billion
2018$2.05 billion

Revenue Of Discord

YearValuation
2022$428 million
2021$373 million
2020$250 million
2019$115 million

Discord Revenue From Nitro Sales

YearValuation
2023$207 million
2022$208 million
2021$173 million
2020$120 million
2019$70 million

How Many People Are Using Discord?

Here are a few statistics on Discord that will help you understand the popularity of the platform:

Proportion Of People Using Discord

YearTotal Number Of Discord Users% of Discord users by world population
2023563 million 1.25%
2022456 million5.70%
2021370 million4.69%
2020300 million3.83%
2019250 million3.23%
2018200 million2.61%
201790 million1.19%

Discord Monthly Active Users

YearTotal Number Of Discord Users
2023560 million MAU
2022500 million MAU
2021400 million MAU
2020300 million MAU
2019250 million MAU

Discord Users By Age

Age GroupShare
18-2436.10%
25-3431.52%
35-4416%
45-549%
55-645.07%
65+3.23%

Discord Visitors Ranking By Country

Discord Visitors Ranking By Country
CountryThe Number Of Discord Users Per Country Each Month
United States228.8 million
Brazil19.1 million
France17.8 million
United Kingdom16.9 million
Germany14.8 million

Discord Acquisitions

Acquiree NameAnnounced DateTransaction Name
GasJan 17, 2023Gas acquired by Discord
Sentropy TechnologiesJul 13, 2021Ubiquity6 was acquired by Discord
Sentropy Technologies was acquired by DiscordJun 28, 2021Ubiquity6 acquired by Discord

What Are the Risks Associated With Discord?

Discord is not immune to problematic content, which is a problem in almost all social media platforms. The ability of the platform for user anonymity and invite-only servers make it very easy for the bad actors to slide undetected.

For example, in 2017, Discord was used by white supremacists to organize the Charlottesville, Virginia, rally. And only after the attacks took place, Discord was able to shut down several servers with Nazi ideology.

According to Eros Resmini, the former marketing chief at Discord, the company doesn’t scan general user messages unless something is reported to the safety team members of the platform.

Therefore, the biggest threat to using the Discord platform is the content moderation and privacy risks.


Who Are The Competitors Of Discord?

Discord is growing rapidly, and so is the tech industry. It’s a moment of time for a trend to die in the tech industry, and Discord is no exception.

Despite its popularity, some games and live-streamers also consider it a good option to be on other similar platforms. Yes, there are other similar platforms like Discord. While some are really excellent, others are just average.

Here is a list of some competitors of Discord:

1. TeamSpeak

The story of TeamSpeak began in 2001, even before Doscord was launched. It is a platform that lets users create and join servers for free. So, many gamers use the platform for in-game communication.

Moreover, the users had to download the app as it can’t be accessed on the web browser. The platform uses machine learning for background noise cancellation on calls.

2. Slack

Slack was launched in 2013 and is a team messaging platform for enterprise use. The app was then acquired by Salesforce in July 2021.

However, unlike Discord, the app lacks the gamer feel but also has a file size limit of uploads to 1GB compared to 8 MB offered by Discord under its free plan.

The platform experienced rapid growth during COVID-19, raising the number of concurrent users from 10 million to 12.5 million in just 2 weeks. So, as more and more companies are now using Slack, it has the capacity to replace email as a communication platform.

3. Telegram

Telegram was also launched in 2013 and is often deemed as the rival app of WhatsApp. Apart from messaging and video calling, it offers a range of features, such as hosting private and public communities, customizations, public channels, and much more.

In March 2021, the platform had 550 million users. Also, the app is an appealing option for users who prioritize privacy, as Telegram also offers end-to-end encryption, which is not an option in Discord.

4. Mumble

Mumble is a free, open-source, high-quality voice chat application. It is an application specifically designed for gamers and has somewhat similar features to TeamSpeak.

The platform is a voice-over IP application and cross-platform released under the terms of the BSD-3 Clause license.

5. Element

Element was launched in 2016 as Vector, then it changed its name to Riot and then Element. It is a text, voice, and video chat app with a strong emphasis on user privacy.

This app also allows users to communicate with other apps in the ecosystem of Matrix and also connect to other mainstream platforms such as Slack, Telegram and Microsoft Teams.


What Is The Future Of Discord And AI?

Discord is rapidly growing, and not even COVID-19 was able to stop it. During the pandemic, when almost every company was suffering, Discord gained tens of millions of new users on the platform.


Conclusion

Discord is a very popular platform. However, is Discord profitable 2024? can only be found through its valuations of profits and revenue. It has various sources of revenue, such as membership fees, subscriptions, and funding.

However, Discord also has the risk of content moderation and privacy risks that make many people switch to its competitors. We hope this article provides you with the information to determine the profitability of Discord.


FAQs

Who owns Discord?

Discord is privately owned by the company Discord Inc. and was founded by Jason Citron and Stanislav Vishnevskiy.

Why is Discord so popular?

On Discord, the users have the ability to create a server with voice and text at no cost, which made Discord a popular platform. As of the time, TimeSpeak required the users to rent the server and the text chat was not great on it.

What age uses Discord the most?

According to the research, the most common age range using the Discord platform is 18-34 years old, which is 37%.

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