TikTok’s short-form video app is reaching a new milestone. The app is the first non-gaming mobile app to reach 1 billion monthly active users in 2021 and generate $10 billion in consumer spending across the Apple App Store and Google Play combined, according to new analysis by the app intelligence provider. It is said that it became. data.ai. The only other apps to achieve this include all games including King/Activision Blizzard’s Candy Crush Saga, which is the top earner at over $12 billion, Tencent’s Honor of Kings, XFLAG/Mixi’s Monster Strike, Including Supercell’s Clash of Clans.
Image credits: data.ai
The report notes that TikTok already entered 2023 with more than $6.2 billion in consumer spending and has since added another $3.8 billion over the course of the year, representing 61% year-to-date growth. This figure is 15% higher than the total of $3.3 billion in 2022, according to data.ai. For reference, that report only includes consumer spending on TikTok across iOS and Google Play, and does not include third-party Android app stores in China. In other words, TikTok’s total consumer spending could increase further.
This spending comes from TikTok’s in-app purchases of “coins,” a virtual currency that users can spend on gifts to creators on the platform. These gifts reward creators for their content and can be cashed out as fiat currency, with TikTok keeping his 50% of the payments. The app’s most popular in-app purchase is a bundle of 1,321 coins for $19.99, which accounts for a quarter of its revenue. TikTok also generates revenue from other sources besides in-app purchases, such as advertising and e-commerce through the TikTok Shop, but these are not counted in data.ai’s analysis.
Image credits: data.ai
According to Data.ai, US consumers and Chinese iOS users accounted for the majority of the in-app spending that pushed TikTok to the $10 billion milestone, with both markets accounting for around 30% of each revenue and In other words, it drives 60% of the total. Total when combined. This was followed by other markets such as Saudi Arabia, Germany, the UK, and Japan, which together accounted for 13% of his in-app purchase revenue.
TikTok is the only non-gaming app to reach $10 billion, but other non-gaming apps have also made billions of dollars, but far behind TikTok. The next closest competitors are Tinder and YouTube, both of which have a $2 billion to $3 billion lead over TikTok, the report said.
Image credits: data.ai
“TikTok is poised to become the most profitable mobile app in history, approaching the $15 billion milestone in 2024. Consumers are tipping their favorite content creators with more than $11 million per day. , which makes TikTok the world’s most lucrative mobile game ever, surpassing the beloved Candy Crush Saga,” said Lexi Sydow, Head of Insights at data.ai. At the announcement About new milestones. “TikTokers will spend 40 hours of work time each month within the app by the end of 2024, a 22% increase from 2023,” she added.
office Predict TikTok’s revenue will rise again in 2024, with consumer spending reaching $15 billion.
Source: techcrunch.com
