he giant TikTok along with its Chinese twin, ByteDance Douyin, became the first app that provides other forms of entertainment than gaming, which reached
an in-app purchase revenue of $6 billion in 2024. As stated in a report from Sensor Tower, the social media platform also managed to set a new record by generating $1.9 billion in gross in-app purchase revenue.
It should be mentioned that in the non-games industry of apps, apps such as YouTube and Google were able to exceed this figure, as the same report stated. It should be mentioned that TikTok’s IAP annual revenue for 2024 is indeed an important milestone in yearly increase due to the fact that the social media platform recorded a $4.4 billion revenue in 2023.
In the fourth quarter of 2024, TikTok was the no.2 most downloaded app, right behind Instagram. After TikTok, the top 5 list of downloaded apps also included WhatsApp, Facebook, and Temu.
But it’s important to know that this TikTok record includes Douyin, which is the sister app for TikTok. On the ByteDance Douyin website and app, users located in the Chinese territory can enjoy similar content as content creators post on TikTok. But the Douyin TikTok content is specially customized for the Chinese audience with more rigorous regulations and has an increased focus on e-commerce social media content. So, while TikTok offers short-form video content that is created for international audiences, in the ByteDance Douyin website and app, Chinese users will find short-video content concentrated on e-commerce.
TikTok has experienced some issues in the U.S territory due to the fact that it was banned for a short period based on national security concerns. The recently elected president, Donald Trump, has delayed the deadline of the law that required the parent company to sell TikTok. After Donald Trump signed the executive order, the TikTok ban was delayed by 75 days in the parent company had to decide if would sell TikTok to a U.S. company or face the ban in the U.S territory for good.
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Now, things have returned to normal, and TikTok is available to be downloaded in the App Store and Google Play in the U.S territory. But, this is not a definitive decision as the executive order still waits for the ByteDance response. In the United States, this social media app represents an important resource for creators because various users spend money to offer content creators virtual gifts that can be later converted into the country’s currency.
Stay tuned to see how the TikTok issue will be solved in the U.S!
By
Eva Robinson
•
February 25, 2025 11:05 AM
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