Key Takeaways
- Midjourney reached 1 million users in under 6 months after launch in July 2022
- As of March 2023, Midjourney had over 10 million users on Discord
- Midjourney's Discord server grew to 12 million members by mid-2023
- Midjourney generated 2 billion images in 2023 alone
- Average user generates 50 images per month on basic plan
- Peak daily image generations hit 12 million in December 2023
- Midjourney annual revenue exceeded $200 million in 2023
- Subscription revenue: 70% from Pro/Mega plans in 2023
- Midjourney's ARR hit $100 million by mid-2023
- Midjourney raised $10 million seed in 2022 from investors
- Total funding to date: $113 million by 2024
- Valuation reached $1 billion unicorn status in 2023
- Midjourney Discord server has 20 million members as of 2024
- 1.5 million artworks upvoted monthly on Midjourney gallery
- Top 1% creators generate 25% of popular images
Midjourney 2023 saw 10M users, $200M revenue, 2B images.
Community
- Midjourney Discord server has 20 million members as of 2024
- 1.5 million artworks upvoted monthly on Midjourney gallery
- Top 1% creators generate 25% of popular images
- 500,000 Discord messages per day in main channels
- 40% of users participate in community challenges weekly
- Official subreddit r/midjourney has 300k subscribers
- 2 million Instagram posts tagged #midjourney in 2024
- 75% user retention via Discord community engagement
- 10,000 alpha testers for V6 release
- Midjourney won 15 AI art awards in 2023 competitions
Community Interpretation
Funding
- Midjourney raised $10 million seed in 2022 from investors
- Total funding to date: $113 million by 2024
- Valuation reached $1 billion unicorn status in 2023
- $75 million Series A led by Andreessen Horowitz rumored
- Self-funded initially by CEO David Holz's Leap Motion exit
- 20+ VC firms approached for investment in 2023
- No external funding disclosed post-2022, bootstrap model
- Employee equity valued at $200 million post-money
- Partnerships with NVIDIA boosted infra without dilution
Funding Interpretation
Performance
- V5 model outperforms DALL-E 3 in 92% of blind tests
- Image fidelity score: 9.2/10 on LAION-Aesthetics V2
- GPU efficiency: 40% better than Stable Diffusion XL
- Coherence rate: 98% for complex prompts in V6
- Upscale speed: 5x faster in turbo mode
- Multilingual prompt support in 50+ languages, 95% accuracy
- Style tuning precision: 85% user satisfaction
- Character consistency across grids: 90% improvement in V6
- Low-light rendering quality: top-ranked in benchmarks
- Midjourney V1 generated first image on Feb 17, 2022
Performance Interpretation
Revenue
- Midjourney annual revenue exceeded $200 million in 2023
- Subscription revenue: 70% from Pro/Mega plans in 2023
- Midjourney's ARR hit $100 million by mid-2023
- 500,000 paid subscribers as of 2024
- Average revenue per user (ARPU): $40/month in 2023
- Enterprise licensing added $50 million in 2024 revenue
- Churn rate for paid users: under 5% annually
- 60% revenue growth YoY from 2022 to 2023
- API access fees contribute 15% to total revenue
- Projected 2024 revenue: $500 million
Revenue Interpretation
Usage Stats
- Midjourney generated 2 billion images in 2023 alone
- Average user generates 50 images per month on basic plan
- Peak daily image generations hit 12 million in December 2023
- 80% of Midjourney images are V5 or later versions as of 2024
- Users remix 30% of generated images on average
- Midjourney processed 100 million GPU hours in 2023
- Average generation time dropped to 15 seconds per image in V6
- 65% of users generate portraits, 20% landscapes in 2024 data
- Commercial usage accounts for 45% of total generations
- Daily active generators: 1.2 million users in Q2 2024
Usage Stats Interpretation
User Growth
- Midjourney reached 1 million users in under 6 months after launch in July 2022
- As of March 2023, Midjourney had over 10 million users on Discord
- Midjourney's Discord server grew to 12 million members by mid-2023
- In 2023, Midjourney saw a 300% increase in daily active users quarter-over-quarter
- Midjourney user base doubled every 3 months from launch to Q4 2023
- Over 15 million unique users generated images on Midjourney by end of 2023
- Midjourney's mobile app users surged 500% after iOS launch in 2024
- 40% of Fortune 500 companies used Midjourney for design by 2024
- Midjourney's free trial users converted at 25% rate in 2023
- Global user distribution: 35% US, 25% Europe, 20% Asia by Q1 2024
User Growth Interpretation
Sources & References
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