Zoom Statistics in 2024: Latest User, Revenue, and Valuation Numbers

Updated on January 13, 2024
Mentions in the media
Written by
Andrea Mercado
Writer
Edited by
Layla Varela
Editor
Fact-checked by
David Mercado
Editor
Zoom statistics

In 2020, Zoom became a household name for video conferencing. Though still one of the top user-friendly platforms for remote meetings, this app now competes with more calling options as fewer people sit at computers to video chat.

To hold its own against Microsoft, Google, and others, Zoom must prove its workplace value beyond fame for virtual hangouts.

This article uncovers the latest Zoom statistics for usage, AI implementation, and more facts for 2024. 

image 23

Who is using Zoom today? Number of users and demographics in 2024 

Zoom has around 2 million users

According to its website, Zoom maintains 2 million users in early 2024, including at least 315,028 paying customers or subscriptions. How do they behave?

Site analytics data from Similarweb reveals that over a single month, the Zoom website receives upwards of 10.5 million total visits.

Zoom is most popular among the 25 to 34 age group, constituting 29.71% of users

Recent demographic data on Zoom users reveals the platform's audience sits at 50.1% female and 49.9% male between business, personal, and other types of accounts.

In terms of age distribution, Zoom sees most usage by adults 25-34 years old at 29.71%. 

The next highest representation comes from ages 35-44 at 21.46%, reflecting both workplace adoption and broader lifestyle integration. 

The U.S. generates 37% of Zoom's traffic

Similarweb most recent data shows that 36.9% of Zoom's web traffic and resulting revenue comes from the United States as its largest market. 

The company's other top countries are rounded out by:

  • Japan (5.14%)
  • India (4.41%)
  • Canada (4.25%)
  • UK (3.05%)

These five nations account for over 50% of Zoom's net revenue, valued at around $2.5 billion.

However, Zoom faces market saturation going into 2024, with most willing paying customers likely already subscribed.

image 20

Zoom's financial facts and market value in 2024

Americas generates 71% of Zoom revenue

As Zoom fights recent losses, performance in the Americas, especially the United States, buoys overall results. 

Zoom's financial data for Q1 2023 reveal that 71% of its revenue comes from the Americas region, which brought in $784.6 million. That marks a 7.7% year-over-year increase for the company's largest market.

Meanwhile, the Asia Pacific region accounted for 13% of Zoom revenue at $140.9 million, down 5.3% annually. 

Europe, the Middle East, and Africa combined comprised the remaining 16% revenue share at $179.9 million, facing an 8.5% decrease versus last year.

Zoom's valuation dropped from $139B to $20B

Video call software company Zoom reached a peak market capitalization of $139 billion in October 2020 during remote work's height.

But by early 2024, economic conditions dragged the valuation down steeply to $20.7 billion instead.

To counteract Zoom's low usage, Zoom is now heavily marketing AI-powered features to help recap missed meetings or compose messages in its Team Chat app.

While administrators can opt into the trial tools, Zoom claims transparent consent processes for training its AI using customer content. 

In 2023, Zoom Reported its first net loss since 2018

Starting in 2023, Zoom saw its first net quarterly loss since 2018. The platform for videoconferencing reported a $104 million deficit ending January 31. 

That contrasts with the $490 million profit from the previous year, with revenue also down 10% annually to $481.7 million.

Zoom mainly attributes the sudden negative turn to increased stock-based compensation. That is why the company announced cutting 1,300 jobs in early 2023.

image 24

Zoom layoffs yield a 10% share price increase

Besides announcing wide-scale layoffs of 15% of staff in February 2023, CEO Eric Yuan took responsibility by cutting his salary by 98% and forfeiting bonuses. 

The market responded positively, with Zoom's share price rising roughly 10% following the restructuring.

Zoom revenue growth slows to 5%

Zoom's revenue grew around 5%, as its financial reports showed in 2023, a significant slowdown from the 55% growth in 2021.

After the pandemic, people used video calls less for fun, and Zoom now depends more on business contracts.

During COVID-19, Zoom was one of the main tools for virtuality, but it also caused some problems like "Zoom fatigue," where too many video calls made people tired and had psychological effects.

image 22

What is different about Zoom compared to the competition today?

Zoom connects with over 1,000 external apps to enhance business collaboration. These integrations cover different areas like marketing, finance, scheduling, healthcare, and more. 

Some popular platforms you can connect with Zoom include Salesforce, Marketo, Calendly, Pardot, Miro, Eventbrite, and other tools commonly used for remote work. 

But what else makes Zoom different today?

Zoom Pro costs $150/year, while Microsoft Teams plans range from $48-$150 annually

Zoom and other alternatives for video conferencing, like Microsoft Teams, offer free versions with limited functionality. However, both platforms take different approaches to pricing when it comes to plans.

Microsoft Teams integrates with Office 365 subscriptions, charging $4-$12.50 monthly per user depending on needed features like meeting capacity. 

Zoom sells standalone packages, including the $149.90 per year Zoom Pro or $199.90 Zoom Business tiers.

Teams free offers 60-minute meetings, Zoom just 40

Microsoft Teams holds a slight edge for very casual users. Its free tier enables 60-minute group video calls, 50% longer than Zoom's 40-minute basic cap before ending free meetings. 

For organized teams, however, most require upgraded paid accounts. Here, Zoom pulls ahead by packaging unlimited 30-hour group sessions into all its annual Pro, Business, and Business Plus packages.

image 21

Zoom Statistics Summary: Usage and Facts for 2024

Zoom has around 2 million users.

Zoom is most popular among the 25 to 34 age group, constituting 29.71% of users.

The U.S. generates 37% of Zoom's traffic.

Americas generates 71% of Zoom revenue.

Zoom's valuation dropped from $139B to $23B.

In 2023, Zoom Reported its first net loss since 2018.

Zoom layoffs yield a 10% share price increase.

Zoom revenue growth slows to 5%.

Zoom Pro costs $150/year, while Microsoft Teams plans range from $48-$150 annually.

Teams free offers 60-minute meetings, Zoom just 40.

FAQ

Is Zoom AI Companion a paid feature?

Yes, Zoom AI Companion is included in the cost of Zoom's paid subscription plans.

How does Zoom's pricing for AI compare to other office software providers like Microsoft and Google?

Zoom's approach stands out in terms of pricing. While Zoom includes its AI Companion in the subscription plans, Microsoft charges an additional $30 per user per month for 365 Copilot, and Google has announced a similar pricing strategy.

Additionally, Zoom offers its Zoom Docs app, and although specific pricing details weren't provided, users get one year of access to its "Essential Apps" with paid subscriptions. 


Who founded Zoom?

Zoom was founded in 2011 by the Chinese-American billionaire engineer Eric Yuan.

Appearing on The Forbes 400 list of America’s wealthiest people using stock prices, his net worth nearly doubled, soaring from $11 billion to $21.3 billion in late 2023.

As the demand for video-conferencing skyrocketed due to remote work scenarios, Zoom emerged as one of the best-performing stocks in the pandemic.

Final Thoughts

After gaining massive popularity during the COVID-19 lockdowns, Zoom is facing tougher times for growth. With fewer people using it for fun after the pandemic, Zoom now heavily relies on business contracts for video meetings related to remote work.

However, its reputation for being easy to use and reliable might help it stay competitive. Almost all devices can join Zoom meetings, and it works with over 1,000 apps to improve collaboration.

Recently, Zoom introduced Zoom Docs with AI features for creating and adding content to match their customers’ expectations.

Sources:

  1. 10 Video Marketing Statistics That You Need to Know in 2024 [INFOGRAPHIC] - Skillademia 
  2. zoom.com Traffic Analytics, Ranking Stats & Tech Stack | Similarweb 
  3. How Zoom Makes Money 
  4. Zoom Is Now Worth More Than ExxonMobil—And Founder Eric Yuan’s Net Worth Has Nearly Doubled In Three Months 
  5. The End of the Zoom Boom | WIRED 
  6. Zoom says its new AI tools aren’t stealing ownership of your content - The Verge 
  7. Zoom sets sights on AI development as it posts fourth-quarter loss | Computerworld 
  8. Zoom layoffs impact 15% of staff | TechCrunch 
  9. Zoom Gears Up For Post-Pandemic Growth As Competition Heats Up 
  10. Zoom Video Communications Reports Financial Results for the Third Quarter of Fiscal Year 2023 
  11. Microsoft Teams vs. Zoom – Forbes Advisor 
  12. Plans & Pricing for Zoom One 
  13. Microsoft puts a steep price on Copilot, its AI-powered future of Office documents - The Verge 
  14. The Pressure Principle: The Story of Eric Yuan & Zoom
  15. Forbes 400 2023 

Related Articles:

Andrea Mercado is a tech-focused journalist and copywriter with over 5 years of experience covering innovation, edtech, AI, and internet trends across media outlets. She is passionate about how technology can democratize access to education and is an avid learner when it comes to emerging tech like AI. Her articles and webinars help readers stay informed on the latest tech developments.
crossmenu linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram