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TikTok has now exceeded three billion downloads worldwide from the App Store and Google Play, according to data from Sensor Tower Store Intelligence, making it the fifth non-game app to reach this milestone since 2014, joining WhatsApp, Messenger, Facebook and Instagram.
Download numbers include the iOS version of Douyin, which was released in China, but excludes downloads from third-party Android markets.
Almost 383 million people worldwide downloaded TikTok for the first time in the first half of 2021, making it the most downloaded off-game app in the world during that time. The platform also generated around $ 919.2 million in consumer spending during that time period, again the highest in the world.
Downloads of the TikTok app are down about 38% from the same period in 2020, down from around 619 million, in part because it was removed from Indian app stores, but spending by consumption grew 73%, from $ 530.2 million in the first half of 2020 to this first six months of the year.
The second quarter of 2021 marked TikTok’s strongest quarterly growth in a year earlier, up 39% from $ 384.7 million to $ 534.6 million. First downloads increased 16% from 177.5 million in the first quarter of 2021 to 205.4 million in the second quarter of this year, the strongest growth for TikTok since setting a record for any app over. 315 million downloads in the first quarter. quarter 2020.
TikTok also became the 16e non-gaming app to hit over $ 1 billion in gross revenue since January. It’s actually one of five to hit $ 2.5 billion, joining Tinder, Netflix, YouTube, and Tencent Video.
TikTok has worked with European merchants on in-app sales, hoping to replicate the success of Douyin, which generated $ 26 billion in app sales in its first year. Bloomberg reported that TikTok’s parent company ByteDance hopes to run more than $ 185 billion in e-commerce per year by 2022.
TikTok has also become something of an online financial guru for young people, although financial experts caution against making it the only source of financial wisdom.
TikTok increased its operating profit to $ 7 billion after ByteDance reported revenue of around $ 35 billion last year, Bloomberg reported. The Chinese company had an estimated operating profit of less than $ 4 billion the year before, according to the report.
Beijing-based ByteDance is valued at around $ 180 billion and plans to launch an Initial Public Offering (IPO) in Hong Kong.
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NEW PYMNTS DATA: STUDY PUTTING LOYALTY AT THE SERVICE OF SMALL BUSINESS – UNITED KINGDOM EDITION
About the study: UK consumers see local purchases as essential for both supporting the economy and preserving the environment, but many local High Street businesses are struggling to get them in. In the new Making Loyalty Work For Small Businesses study, PYMNTS surveys 1,115 UK consumers to find out how offering personalized loyalty programs can help engage new High Street shoppers.
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