TikTok is probably one of the most controversial apps in the market. While this app is very good in what it does, it has gotten some “bad reports” in recent times. However, this is not changing anything about its finances. In fact, its financial situation is increasing. According to recent reports, TikTok’s revenue in the US market is expected to reach $500 million this year.
The current development speed of TikTok in the United States and other regions is “like a rocket”. It brings its own mobile video experience which is on a different level from YouTube and Facebook. Currently, TikTok is becoming more popular among American teenagers. TikTok said last year that it has 26.5 million monthly active users in the U.S. Out of this number, about 60% are between 16 and 24 years old.
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Today, under the leadership of the new CEO and former Disney executive, Kevin Mayer, TikTok hopes to translate this growth into billions of dollars in revenue. Last month, Mayer was appointed COO and Global CEO of TikTok. Over the past 20 years, Mayer has held a number of important positions at Disney and successfully launched Disney+, a streaming service for Disney.
TikTok revenue is higher than expected
Last week, research agency, Sensor Tower, issued a report saying that in May this year, Douyin and TikTok attracted more than $95.7 million in the global App Store and Google Play, an increase of nearly 10 times from the $9 million in the same period of the previous year.
Looking at TikTok’s revenue, about 89% of the revenue comes from the Chinese market. Interestingly, the US market ranks second, contributing 6.2% of the revenue. In the third position is the Turkish market, accounting for 1.2%. See the chart below for the complete list of the top 10 global mobile app revenues.
Well, TikTok attracted more funds than heavyweights like YouTube in the second position with a revenue of $78.4 million. For YouTube, this figure is a 77.3% increase over the same period of last year. American users contributed 55.7% of YouTube’s revenue, followed by Japanese users, accounting for 11.8%.
According to statistics, the country with the most installed TikTok apps in May is India. Of 111.9 million downloads, India accounts for over 20% of the total downloads. Despite several warnings from top U.S. officials, the United States still accounts for 9.3% of the total TikTok downloads. From the perspective of mobile phone systems, TikTok ranks first in Android downloads in May. However, for the iOS system, it ranks second, behind online meeting software, Zoom.