- Microsoft reports that LinkedIn has reached 690 million members now and that it is experiencing higher levels of engagement as the platform reports a 26% growth in LinkedIn sessions.
- LinkedIn’s revenue increased by 21% for Q3 2020, but it is experiencing a slowdown in job listings, and ad spend.
- LinkedIn’s overall performance is quite well during the pandemic.
As part of Microsoft’s earning release report for Q3 2020, the company reported that LinkedIn has been gaining new members, and it is also experiencing increased members’ engagement across the platform. However, due to the impacts of COVID-19, the platform recorded a slowdown in job listings, and ad spend.
LinkedIn has now reached 690 million total users, boasted Satya Nadella Chief Executive Officer of Microsoft in a press release, while the platform has 675 million members back in the start of 2020. Obviously, all the members are not active users of LinkedIn, but it does show that the platform is continuously expanding and will gain traction in new markets over time.
Discussing LinkedIn’s active usage, Microsoft states that LinkedIn sessions have gained a 26% growth during the quarter. LinkedIn is experiencing ‘record levels of engagement’ during these times. But it depends on your personal experience how you view these numbers. Some businesses are getting increased referral traffic from LinkedIn and seeing expanded engagement on their posts. Yet, some other members are of the view that most of this ‘extra’ participation is due to Facebook-like personal posts and gimmicky updates specifically designed to draw attention rather than providing professional information.
Overall, we can say that LinkedIn has more users than the platform could gather ever in the past, and these users are more actively using the platform than in time past. This could provide better opportunities for communication. LinkedIn is experiencing record levels of engagement during the coronavirus lockdowns.
According to the report, professionals viewed approximately 4 million hours of LinkedIn Learning content during March, an about 50% month-over-month jump. LinkedIn Live streams have also been increased by 158% since Feb. The platform introduced the LinkedIn Live feature to company pages back in January.
LinkedIn’s revenue for the quarter increased by 21%, says Microsoft’s Performance report for Q3 2020. But the report also states that the platform has seen a decreasing demand in its ads and job listings. The decreased demand for advertisements and job listings is because of the coronavirus effects.
It is expected that LinkedIn will continue to experience strong engagement, but a significant decline to mid-single-digit is anticipated in the platform’s revenue growth. The expected slowdown is due to decreased advertising and customer hiring needs.
It seems that coronavirus will have an ongoing effect on LinkedIn’s performance, but for now, the platform continues to perform well. Linked is deriving better results for its parent company, Microsoft, but it ultimately depends on your personal experience on how you view the platform. As the data shows, more people are using LinkedIn, and with extra tools to connect, such as Live-stream and Event feature, which Linked recently expanded, LinkedIn could be worthy of elevated focus.
Read next: LinkedIn Tests Poll Option For Posts, A New Presentation Mode For Hashtags, and A New Image Cropping Tool For Desktop Users
