ByteDance's TikTok has regained its spot in US mobile markets, leading to a drastic 91% drop in downloads for Xiaohongshu, its closest competitor. Following TikTok's return, its downloads more than doubled, while competing platforms like YouTube and Instagram saw declines. Despite losing about $142 million during its absence, TikTok now averages $4.7 million in daily consumer spending. However, the app's future in the US is uncertain due to potential regulatory actions, with only a short deadline for ByteDance to negotiate a sale.
In the five days following TikTok's re-listing, downloads of Xiaohongshu plummeted by 91 percent, highlighting TikTok's dominant position in the social media market.
TikTok doubled its usual downloads upon returning to app stores, while competitors like YouTube and Snap saw declines, showcasing TikTok's resilience and influence.
Gross consumer spending on TikTok in the US averages about $4.7 million per day, indicating its significant financial impact even post-relisting.
Despite TikTok’s market strength, its future in the US remains uncertain, pending a deal for its operations dictated by US interests.
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