TikTok has joined an unique membership amongst prime apps.
The video-sharing service has generated over $10 billion in world shopper spending, making it the one non-gaming app to take action. It’s on observe to grow to be the highest-earning app of all time, in response to a new report from Data.ai.
TikTok has added almost $4 billion this yr alone, the report says. The introduction of digital cash to buy items for content material creators on the platform has led the expansion.
Thus far, solely 5 apps have crossed the $10 billion shopper spend threshold. Sweet Crush Saga is the highest earner, having taken in additional than $12 billion. Honor of Kings from Tencent has earned $11 billion. Monster Strike boasts $10.6 billion in earnings and Conflict of Clans has taken in $10.2 billion.
Subsequent yr, nonetheless, these rankings will seemingly look loads totally different. Knowledge.ai predicts TikTok will attain $15 billion in shopper spend by the top of subsequent yr.
“TikTok is poised to become the highest earning mobile app ever,” stated Lexi Sydow, head of insights at Knowledge.ai, in an announcement. “Consumers are spending over $11 million per day tipping their favorite content creators. … TikTokers are poised to spend a 40-hour work week each month in the app by the end of 2024, [up] 22% from 2023.”
That determine doesn’t embrace TikTok revenues from promoting or e-commerce.
Tinder and YouTube are prone to be part of the membership within the subsequent yr or two as properly. Tinder at the moment has $8 billion in shopper spend, whereas YouTube is shut(ish) behind at $7 billion.
The milestone in shopper spending isn’t prone to quash longstanding issues about TikTok. Congressional sentiment has been strongly in opposition to the app for years, with many in Washington (and state governments) pushing for a ban. CEO Shou Zi Chew faced a stringent grilling by Congress in March, one of many few occasions each Republicans and Democrats have agreed on something this yr.
