In 2024, TikTok and its Chinese counterpart Douyin reached a historic milestone as the first non-game app to accumulate $6 billion in in-app purchase revenue. According to a Sensor Tower report, TikTok's fourth-quarter IAP revenue alone was $1.9 billion, second only to YouTube and Google One across the year. Despite its financial success, TikTok was the second most downloaded app in Q4, eclipsed by Instagram. Additionally, TikTok's significant revenue growth underscores its importance in the creator economy, where users purchase virtual gifts for content creators.
TikTok became the first non-game app to achieve $6 billion in in-app purchase revenue in a year, significantly exceeding other apps.
In Q4 2024 alone, TikTok generated a record $1.9 billion in gross in-app purchase revenue, outperforming all but YouTube and Google One.
Despite revenue success, TikTok ranked No. 2 for downloads in Q4 2024, following Instagram, indicating a split between popularity and monetization.
TikTok's revenue illustrates its crucial role in the creator economy, where users buy virtual gifts for creators, with TikTok taking a cut.
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