TikTok Revenue and Usage Statistics (2024)

What is TikTok App?

TikTok is a popular short-video app that has been downloaded more than 2 billion times on the Google Play Store and Apple’s App Store. 

This social media app, which has caused controversy in many markets such as India and USA due to national security concerns since the first day of its launch, first appeared as Douyin in Mainland China in 2016.  A year later, in 2017, Chinese developer ByteDance acquired Musically for $1 billion and merged it into TikTok. 

So, what is TikTok app used for?

TikTok offers users hundreds of effects and filters to create their short videos up to 60 seconds. Users are able to add sound clips from the apps’ vast music library to the background of their videos and share their TikToks with millions of other users in the app.

TikTok shows the most liked and engaging videos on its homepage to other users, which made it possible for the app to become quite popular and for many users to step into the world of influencer marketing gaining millions of followers in a very short time.

It’s wide user base also attracted the attention of businesses very quickly. Now, many global brands and SMEs include TikTok in their social media marketing strategies and promote their products and services using the various advertising opportunities offered by the platform.

Now, let’s take a look at the latest Tiktok revenue and usage statistics.

TikTok User & Usage Stats (2024)

• According to Piper Sandler’s Spring 2023 Taking Stock with Teenagers survey, TikTok is still the most popular social media site among teens as of April 2023, despite a one-percentage-point decline in favorability from the fall of 2022 with a 37% share.
• TikTok said on March 20, 2023 that it has 150 million monthly active users in the United States, up from 100 million it had in 2020. (Reuters)
• TikTok generated 672 million new app downloads in 2022, making it the most downloaded app last year. It was also the No.1 app in the United States in 2022 with 99 million installs. The app was banned by over 20 states from government-owned devices.
• TikTok was the most downloaded app in the first half of 2022, with approximately 373.2 million.
• TikTok became the most downloaded non-game app worldwide in Q1 2022 across Google Play and the App Store.
• TikTok saw daily opens from 29% of its active Google Play downloads in Q2 2022, the second-highest engagement after Instagram. (Sensor Tower)
• In 2023, TikTok’s user base expanded to 1.5 billion, marking a 16% surge compared to the preceding year.

• As of the end of 2023, TikTok’s mobile apps generated around 4.4 billion.

• TikTok’s global users have overtaken those of Snapchat and Twitter in 2021, marking it the third largest social network worldwide behind Facebook and Instagram. 
• TikTok became the world’s most visited site in 2021, surpassing last year’s leader Google.
• TikTok became the most downloaded app worldwide on Christmas day 2021.
• As of July 2021, with the 3 billion install milestone, TikTok is the fifth non-game app to join a tier that’s historically been the exclusive domain of Facebook. 
• TikTok’s first-time downloads climbed 2 percent Q/Q to 177.5 million in Q1 2021, and surged 16 percent Q/Q to 205.4 million Q2 2021, the most growth the app has seen since its record-breaking Q1 2020 when it accumulated more than 315 million installs.
• The mobile app of TikTok has been downloaded over 2 million times on the major app markets. It also broke a new record by getting 315 million app installs and became the most downloaded app in the first quarter of 2020. (Show More)
• It is available in more than 150 countries around the world and it supports 39 languages. (TikTok)

Also Read: 10 Most Liked TikTok Videos of All Times

TikTok Revenue Statistics (2024)

• As of December 2023, TikTok became the first non-game app which surpasses $10 billion in consumer spending.

• Across both Apple and Google’s marketplaces, TikTok continued to be the highest-earning non-game app in H1 2022, generating a total of $1.7 billion from user spending which grew 85% from the $920.7 million it developed in the first half of 2021.
• TikTok users spent $2.3 billion in the popular short-video app in 2021, including the iOS version of its Chinese localization Douyin, up 77% YoY from $1.3 billion in 2020.
• In Q2 2021, TikTok saw its biggest quarter-over-quarter growth in consumer spending since Q2 2020, climbing 39% to $534.6 million from $384.7 million in the previous quarter. 
• Shopping on TikTok increased by 553% in the last 12 months.
• TikTok generated $78 million from in-app purchases in April 2020. (Show More)