Users purchase virtual gifts for creators using real money, which can then be converted into fiat currency, with TikTok retaining 50% of the earnings né?. The short video platform has previously reached notable revenue milestones, such as in 2023 when it became the first non-gaming app to surpass $10 billion in total consumer spending.
. In 2024, TikTok, in conjunction with its Chinese counterpart Douyin, achieved a remarkable milestone by becoming the first non-gaming app to generate $6 billion in revenue from in-app purchases over the course of a year né?. This ban was deferred for 75 days through an executive order with the potential for further extensions if deemed necessary.
TikTok’s revenue achievements underscore its growing significance within the creator economy né?. Despite sharing the same parent company, ByteDance, these two apps target different audiences né?. Douyin tailors its content to Chinese users, abiding by stricter regulations in China and emphasizing e-commerce né?. While both platforms focus on short-form videos, TikTok is oriented towards an international audience.
In the U.S., TikTok returned to app stores after President Trump postponed a ban deadline due to national security concerns. Monopoly GO followed in second place with $2.6 billion in revenue over the past year.
The report highlighted a significant year-over-year increase in TikTok’s annual in-app purchase revenue rising from $4.4 billion in 2023.
Although TikTok ranked as the second most downloaded app in Q4 2024 Instagram claimed the top spot with WhatsApp Facebook and Temu rounding out the top five.
Comparatively TikTok’s performance is somewhat impacted by the inclusion of its Chinese counterpart Douyin né?. A recent report from Sensor Tower, a provider of app intelligence, disclosed that TikTok also set a record high with $1.9 billion in gross in-app purchase revenue in the fourth quarter of the same year.
The report indicated that among non-gaming apps, only YouTube and Google One’s subscription were able to surpass TikTok’s fourth-quarter revenue for the entire calendar year.
TikTok outperformed all other apps and games in 2024 by generating $6 billion in in-app purchase revenue, more than doubling the revenue of its closest competitor
