Chinese app TikTok’s magic continues. The short-form video platform TikTok has been ranked among the top social media apps generating the highest revenue, as per data compiled by Finbold. The app is banned in India for more than two years now. The government banned TikTok in June 2020 along with 100-plus other Chinese apps over national security issues.
In September, the app generated $2.5 million daily on Android and iPhone devices worldwide, excluding the iPad. The value translates to an hourly revenue of about $104,000. During the month, the social media platform recorded a cumulative revenue of $75.8 million. Notably, TikTok recorded the highest revenue among social media platforms, with the value for Google Play Store standing at $35.14 million to emerge second overall behind the dating app Tinder, which had $37.58 million. On the Apple App Store, TikTok’s revenue also emerged second at $40.66 million behind the gaming app Coin Master, which had $47.96 million.
How TikTok popularity turned into revenue
According to Finbold, after initially expressing skepticism about TikTok, advertisers are increasingly embracing the app to tap into its global user base. “In this line, advertisers can engage with influencers that fit their target market through the creator marketplace. In general, TikTok has evolved with advertisers making the app a crucial part of their media strategy and budget,” says the report.
It further adds that the gains of TikTok can also be attributed to its model of recommending short videos based on the algorithm it uses. The app suggests content relevant to a user’s interests, keeping them engaged for extended periods, while the shorter videos enable users to access more content in less time.
In September, the app generated $2.5 million daily on Android and iPhone devices worldwide, excluding the iPad. The value translates to an hourly revenue of about $104,000. During the month, the social media platform recorded a cumulative revenue of $75.8 million. Notably, TikTok recorded the highest revenue among social media platforms, with the value for Google Play Store standing at $35.14 million to emerge second overall behind the dating app Tinder, which had $37.58 million. On the Apple App Store, TikTok’s revenue also emerged second at $40.66 million behind the gaming app Coin Master, which had $47.96 million.
How TikTok popularity turned into revenue
According to Finbold, after initially expressing skepticism about TikTok, advertisers are increasingly embracing the app to tap into its global user base. “In this line, advertisers can engage with influencers that fit their target market through the creator marketplace. In general, TikTok has evolved with advertisers making the app a crucial part of their media strategy and budget,” says the report.
It further adds that the gains of TikTok can also be attributed to its model of recommending short videos based on the algorithm it uses. The app suggests content relevant to a user’s interests, keeping them engaged for extended periods, while the shorter videos enable users to access more content in less time.
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