TikTok Revenue and Usage Stats

Initially launched in 2016, TikTok has exploded onto the social media scene by giving users the ability to create short-form videos that can be up to three minutes long. It's became the fastest growing social network in 2020, capturing the fancy of young social media users worldwide. And it looks to maintain its upward trajectory in the succeeding years. 

While many still consider it a Gen Z platform for dance challenges, TikTok has grown to encompass every kind of content and community. And with the launch of in-app shopping in 2021, it's become even more essential to brands looking to connect directly with customers.

Hence, we've compiled some interesting data that will help you see how impactful this powerhouse platform can be for creators in every niche.

TikTok Stats Highlights

1. U.S. TikTok users spend an average of 68 minutes per day on the platform.
2. The number of monthly active users on TikTok has reached 1 billion.
3. Approximately $110 million is estimated to be spent by TikTok users each month.
4. TikTok has been installed on devices over 3 billion times worldwide.
5. Over 43% of Tiktok's global audience is between 18 to 24 years old.
6. TikTok's parent company, ByteDance, revenue grows by 70% year on year.

TikTok - Key Statistics

U.S. TikTok users spend an average of 68 minutes per day on the platform.

TikTok has exploded in popularity from a modest beginning, growing exponentially from 85 million global users in early 2018 to 1.2 billion by late 2021. It is exceptionally popular among the younger generations. According to recent data, millions of U.S. TikTok users spend an average of 68 minutes per day on the platform.

Furthermore, the usage grew from an average of 442.9 minutes per month in October 2019 to 526.1 minutes in November, 561.2 minutes in December, 680 minutes in January 2020, 731.6 minutes in February, and 858 minutes in March 2020. 

TikTok has reached the 1 billion mark of monthly active users.

TikTok is notable for its addictive quality and high engagement levels. Both amateurs and professionals enjoy adding background music, effects, filters, and stickers to the clips. It is available in 150 global regions and has reached the 1 billion monthly active users mark. Even with the slowdown in downloads due to India's ban and both Facebook and Snapchat launching clones of TikTok, the app remains one of the fastest-growing in the world. Its core demographic was originally Gen Z – those aged between 16 and 24. But the platform's remit is slowly broadening, with Millennials and Gen Xers both being drawn into the fray. 

$110 Million Estimated Monthly User Spending for TikTok.

TikTok's earnings have risen proportionately with its increase in popularity. According to Sensor Tower data, TikTok was the top-grossing non-gaming app worldwide for February 2021, with more than $110 million in user spending, 1.9 times its revenue in February 2020. Later in the year, Sensor Tower announced that TikTok was the top-grossing app worldwide for 2021, although it only came in fourth place on Google Play in terms of revenue, after Google One, Piccoma, and Disney+.

TikTok has been installed on devices over 3 billion times worldwide.

TikTok is home to a variety of content. It is the fastest growing social platform, with over 3 billion installations and 1 billion active users who spend 850 minutes on the platform each month. According to SensorTower estimates, the total number of TikTok downloads has reached 3 billion, making it the most downloaded app in Q1 and Q2 2021. It passed the one billion milestones in February 2019 and the two billion figure in April 2020. It reached three billion in Mid-2021. TikTok became only the fifth non-gaming app to reach the 3-billion level beside Facebook.

Over 43% of Tiktok's global audience is between 18 to 24 years old.

These figures are changing fast as the older generation. In 2021, Datareportal claims 43% of TikTok's global audience was between 18 and 24 years old. In the U.S., the biggest TikTok age group was 10-19-year-olds (25%), followed by 20-29-year-olds (22.4%.) Why is TikTok so popular among the younger generation? 

In a way, TikTok creators understood the younger generation much better; this could be evidenced by their initial target audience being users aged 18 and below.  

TikTok's parent company, ByteDance, revenue grows by 70% year on year. 

TikTok's parent company, ByteDance, reportedly saw its revenue grow to more than $58 billion in 2021. These record earnings come after the company's total revenue grew by 111% to reach $34.4 billion in 2020. People like entertaining and being entertained, and TikTok captured the zeitgeist in the correct format to become a market leader.

Other Important TikTok Stats

• 90% of TikTok users visit the app more than once per day.
• Bytedance, TikTok's parent company, is valued at $400 billion, making it the world's most valuable startup. 
• TikTok is currently valued at $50 billion.
• Out of 4.48 billion active social media users, 22.32% use TikTok regularly.
• TikTok's Gen Z penetration is high in America, with 37.3% using the social media platform at least once per month.
• TikTok has an engagement rate of 5.30% on accounts with 100,000+ followers, compared to Instagram at 1.10% and Twitter at 0.30%.
• TikTok is available in 155 markets in 75 languages. 

Conclusion

TikTok usage is on the rise and shows no signs of slowing down. TikTok represents boundless youthful energy with its manic transformation videos, dance-related content, fashion-themed posts, and other types of content built to entertain. It is undeniably becoming one of the most important platforms for marketers today. Brands can promote themselves through the Tiktok for Business platform, reaching an engaged audience of millions. After all, the social media platform boasts more than 3 billion downloads and 1 billion monthly active users.

Hopefully, these TikTok statistics will help you better understand where it might fit into your market strategy.

Sources

https://www.businessofapps.com/data/tik-tok-statistics/

https://fortunly.com/statistics/tiktok-revenue-statistics/

https://influencermarketinghub.com/tiktok-stats/

https://saasscout.com/statistics/tiktok-stats/

https://www.omnicoreagency.com/tiktok-statistics/