TikTok, the short video sharing platform with 1 billion monthly active users in 2021, has left a new milestone behind. Although it is frequently the subject of controversy, the platform has not lost any of its popularity and has become the first non-game application on which its users spent more than 10 billion dollars.
5th app to exceed 10 billion, first non-game app
The number of applications on which users spent $10 billion was only four to date, and the entire list consisted of games: King/Activision Blizzard’s Candy Crush Saga was at the top with $12 billion, followed by Tencent’s Honor of Kings, XFLAG/Mixi’s Monster. It was following the Strike game and Supercell’s Clash of Clans.
According to the report published by data.ai, TikTok had reached a total of $6.2 billion in user spending in the Apple and Android application stores at the beginning of this year. In the remaining part of this year, the social media platform reached $3.8 billion in spending, with a growth of 61%. This figure is more than the $3.3 billion user spending in all of 2022. Moreover, this report does not include information about transactions made from different stores.
On TikTok, people spend money to buy coins. These coins are then used to send gifts to content creators. Content producers can also convert these coins into money, but TikTok makes a 50% cut at this point. According to incoming data, iOS users in the USA and TikTok users in China spend the most.
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