IndiaTikTok raised 2.3 billion in consumer spending in 2021

TikTok raised 2.3 billion in consumer spending in 2021

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Beijing: Global consumer spending on TikTok continues to grow. Users spent about $2.3 billion last year on mobile apps, which include the iOS version of its Chinese localization Douyin. The figure represents a year-over-year increase of 77 percent from $1.3 billion in 2020, according to the Sensor Tower report.

Consumer spending for ByteDance’s short video platform reached $824.4 million in the fourth quarter of 2021, more than double the $382.4 million generated during the same period in 2020.

Although China remains TikTok’s largest market in terms of consumer spending, its share has shrunk significantly.

In the fourth quarter of 2021, 57 percent of spending came from Chinese users, while China’s App Store represented 85 percent of in-app spend in the fourth quarter of 2020.

With its share of rising spending, the US maintained its rank as the number two revenue-generator for TikTok.

In the fourth quarter of 2021, US consumers spent about $110 million in apps, which accounts for 13 percent of global revenue. This was 5 points higher than the fourth quarter of 2020 when it accounted for US$29.6 million, or about 8 percent of worldwide spending.

In June 2020, the Indian government banned the popular short-form video app TikTok amid border tensions with China.

first published:Jan. 15, 2022, 8:45 p.m.

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