After reaching 1 billion monthly active users in 2021, TikTok has now become the first non-game mobile app to generate $10 billion in consumer spending.
Previously, the record of such consumer spending resided with gaming apps such as Candy Crush Saga from King/Activision Blizzard, Tencent’s Honor of Kings, XFLAG/Mixi’s Monster Strike and Supercell’s Clash of Clans.
As per the reports of data.ai, TikTok entered 2023 with more than $6.2 billion in consumer spending already and then added another $3.8 billion throughout the year.
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The reported statistics exclusively account for TikTok’s revenue generated through consumer purchases on iOS and Google Play platforms. This calculation does not include third-party Android application stores in China, hence the total spending could be even higher.
The spending comes from TikTok’s in-app purchases of “coins” which are a virtual currency that users can spend on gifts for creators on the platform.
