TikTok, along with its Chinese counterpart Douyin, made history in 2024 by becoming the first non-gaming app to generate $6 billion in in-app purchase revenue over the course of a year. A recent report from app intelligence provider Sensor Tower revealed that TikTok also achieved a record high of $1.9 billion in gross in-app purchase revenue in the fourth quarter of last year.
Out of all non-gaming apps, only YouTube and Google One’s subscription were able to surpass TikTok’s fourth-quarter total for the entire calendar year, according to the report.
With $6 billion in in-app purchase revenue, TikTok outperformed all other apps and games in 2024, generating more than double the revenue of any other competitor. Monopoly GO, for instance, earned second place with $2.6 billion in revenue over the past year.
TikTok’s annual in-app purchase revenue in 2024 showed a significant year-over-year increase, rising from $4.4 billion in 2023, the report highlighted.
While TikTok was ranked as the No. 2 app by downloads in Q4 2024, Instagram claimed the top spot. This was followed by WhatsApp, Facebook, and Temu, rounding out the top five.
In the comparison to other apps, TikTok’s performance is somewhat skewed due to the inclusion of its Chinese sister app, Douyin. Despite sharing the same parent company, ByteDance, the two apps cater to different audiences. Douyin’s content is customized for Chinese users, adhering to stricter regulations in China and focusing more heavily on e-commerce. Both apps prioritize short-form videos, but TikTok is designed with an international audience in mind.
In the U.S., TikTok has made a comeback to the app stores after President Trump postponed a ban deadline over national security concerns. The ban was postponed for 75 days through an executive order, with the possibility of further extensions if necessary.
TikTok’s revenue milestones reflect its growing significance within the creator economy. Users spend real money to purchase virtual gifts for creators, which can then be converted into fiat currency, with TikTok retaining 50% of the earnings. The short video platform has reached previous revenue landmarks, such as in 2023 when it became the first non-gaming app to exceed $10 billion in total consumer spending.
