TikTok, Bytedance’s short video platform, has earned $3.8 billion in customer spending from the Apple App Store and Google Play Store in 2023, bringing the company’s total revenue to $10 billion. This was revealed in a report by data.ai, an app intelligence service.
According to the research, TikTok is the first non-game app to reach this milestone. TikTok became the first mobile app to earn more than $1 billion in global consumer spending in a single quarter in Q1 2023. The social video app has over $6.2 billion in customer spending in 2023 and has managed to add $3.8 billion to that figure over the year.
The additional adoption represents a 61% increase from where it was previously. This makes TikTok one of only five mobile apps to have surpassed the $10 billion global income mark.
The report says “It ranks first in the market, alongside Candy Crush Saga from King/Activision Blizzard, the all-time top earner at more than $12 billion, Honor of Kings from Tencent ($11 billion), Monster Strike from XFLAG/Mixi ($10.6 billion), and Clash of Clans from Supercell ($10.2 billion). The next-closest applications to the $10 billion milestone are Tinder and YouTube, but they trail TikTok by between $2 and $3 billion as the year comes to a close.”
According to Data.ai, TikTok’s revenue will increase even faster in 2024, reaching $15 billion in consumer spending, or 50% more than its current total. TikTok also have other revenue streams like in-app advertising and e-commerce through TikTok Shop.
