TikTok surpasses $10bn in revenue, first non-game app to achieve milestone

By Kingsley Odii

TikTok, the popular short video platform developed by Bytedance, has generated an impressive $3.8 billion in consumer spending from both the Apple App Store and Google Play Store in 2023. This surge in revenue has brought TikTok’s total revenue to a staggering $10 billion, according to a report by app intelligence provider, data.ai.

This milestone has solidified TikTok’s position as the first non-game app to surpass the $10 billion mark in total revenue. Data.ai highlights that TikTok’s success extends beyond just this achievement. In fact, during the first quarter of 2023, TikTok became the first mobile app ever to exceed $1 billion in worldwide consumer spending within a single quarter.

At the start of the year, TikTok already boasted a substantial $6.2 billion in consumer spending. Over the course of the year, it managed to accumulate an additional $3.8 billion, signifying a remarkable growth rate of 61% from its starting point in 2023. This increase was also 15% higher than the total revenue achieved in 2022, which amounted to $3.3 billion.

The report by data.ai further reveals that TikTok joins an elite group of only five mobile apps that have surpassed the $10 billion gross revenue milestone. Among the esteemed company are mobile game giants such as Candy Crush Saga, developed by King/Activision Blizzard, which is the highest earner at over $12 billion. Additionally, Honor of Kings by Tencent ($11B), Monster Strike by XFLAG/Mixi ($10.6B), and Clash of Clans by Supercell ($10.2B) have also achieved this remarkable feat.

TikTok’s closest competitors in terms of revenue, Tinder and YouTube, trail behind by a substantial margin of $2 to $3 billion as the year comes to a close, according to the report. With TikTok’s thriving popularity and continuous growth, it seems poised to maintain its dominant position and influence in the global mobile app market for years to come.

LEAVE A COMMENT

Leave a Reply

Your email address will not be published. Required fields are marked *

Comment

    No comments found.