TikTok's Revenue Grew Double-Digits — Again!
This is a single insight from This Week in Apps #87 - That's a Lot of Coin!. Check out the full article for more insights.
TikTok's in a tough battle for downloads with rival Instagram, and being banned in India isn't helping. At all. But while new downloads aren't growing like wildfire, something else is. Revenue.
That's a pretty important one.
In October, TikTok's U.S. net revenue grew by a whopping 34%! It rose 27% in September, 23% in August, and 17% in July. Even its growth rate is growing.
This is the second-largest growth so far this year but the first in terms of absolute revenue. In June, TikTok's revenue grew by a ridiculous 39%. In absolute terms, that meant $3M of additional net revenue as it grew from $8M to $11M.
In October, TikTok added $7M in additional net revenue to its bottom line. That's massive.
Why is this important? Because I think November won't be any different. Nor will December or January. You get where I'm going with this, right?
Remember when Facebook wasn't as big as it is now? Or when YouTube was still something only the kids use? We're at the same place with TikTok. But we won't be here for too long. TikTok is going to become as foundational within the next year.
If you've got an app or game you want to promote you better figure out how to do it on TikTok now before it's too too crowded.
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All figures included in this report are estimated. Unless specified otherwise, estimated revenue is always net, meaning it's the amount the developer earned after Apple and Google took their fee.
