VK Reveals Max Messenger Revenue for the First Time: Over 700 Million Rubles
VK has for the first time disclosed Max messenger revenue — over 700 million rubles from July to October. The daily audience reached 90 million users, up from 22.1 million a year earlier.
The Max messenger earned more than 700 million rubles over four months — from July to October. VK holding disclosed this figure for the first time. The company provided the number in a comment to Kommersant.
What is already being monetized in Max
VK did not present data for the nine months as a whole, but recorded the start of revenue generation. "Services for business clients have been launched, and advertising capabilities are expanding," the company explained. This is the first public confirmation that the national messenger has moved from the infrastructure project stage into a commercial phase.
For practitioners, this means a simple shift: Max's advertising tools and B2B services are now available as a separate placement channel, rather than as a future announcement.
How much the audience has grown
The messenger's daily audience reached 90 million users. The company based this estimate on Mediascope data. A year ago, in its reporting for the same period, Max's average daily reach was estimated at just 22.1 million people. The nearly fourfold growth is a consequence of mandatory preinstallation and government support for the service.
What the holding's overall finances look like
VK's revenue for the first nine months of 2026 grew by 15% — to 128 billion rubles. A year earlier, the growth rate for the same period was 10%. In the third quarter, the holding added 21% and earned 47 billion rubles in revenue; the acceleration is clearly visible quarter by quarter.
Net debt grew by 22% over the quarter — from 60.2 to 73.3 billion rubles. VK called this a planned move and recalled the repayment of 15 billion rubles in first-series exchange-traded bonds. "Net debt is an indicator VK uses as a benchmark for debt load. The target for the net debt to EBITDA ratio is 2–3x and it is within that range — 2.7x versus 3.6x at the end of 2025," the company noted. VK's total debt has decreased since the beginning of the year.
Where mandatory Max came from
The legal framework for the service took shape in 2025. That was when President Vladimir Putin signed the law on creating a multifunctional information exchange service in Russia, and the Ministry of Digital Development announced that it would be developed on the basis of Max. The beta version launched in late March 2025. As of September 1 of that year, Max became mandatory for preinstallation on all gadgets sold in Russia, the Russian government reported.
What this changes for the market
The disclosure of Max's revenue is a signal to advertisers and agencies. For the first time, the holding has provided a measurable base: 700 million rubles over four months and 90 million daily users according to Mediascope. Future reports will show the dynamics of monetization — until now, it could only be judged by promises.
Source: Коммерсантъ
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