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Extraordinary news: China’s TikTok has become the world leader in app revenue

Extraordinary news: China’s TikTok has become the world leader in app revenue

In Q4 2022, TikTok generated more revenue from in-app purchases (IAP) than Facebook, Instagram, Twitter, and Snapchat combined!

It is no coincidence that there is currently a bill before the US Congress that would allow ByteDance Ltd.

It would essentially ban TikTok for the average American consumer.

They also cite security policy considerations, but it’s clear that the idea of ​​being banned in America also plays a role in TikTok’s lack of in-app purchases. In the fourth quarter of 2022. It generated more revenue than its four main competitors — Facebook, Instagram, Twitter, and Snapchat — combined. By the way, TikTok has already been banned for security reasons on government tools In the United States, Canada, Taiwan and others.

for TikTok The result achieved in the field of in-app purchases is a great competitive advantage over other applications. It is no coincidence that TikTok has earned more revenue in this area, since it had such a function from the very beginning. In contrast, Facebook and Twitter, for example, have only recently introduced them.

According to Apptopia, Instagram has made nearly $1 million and Twitter $900,000. Snapchat has been using in-app purchase for a long time, generating an average of $125,000 per day.

These are the numbers For said companies, it’s just the beginning of something and that revenue may prove sustainable for them, but compared to TikTok, it’s significantly behind in IAP: In the fourth quarter alone, TikTok generated $350 million in IAP revenue, and if we take it in 2022 In its entirety, its income was about $1.5 billion, more than 540 billion forints.

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Facebook, on the other hand, generated $56 million in IAP revenue in 2022, although it is still ahead of TikTok in terms of total sales. Thus, the Chinese have subverted the previous business model, so the older giants should also boost their in-app purchase revenue.

Cover photo: MTI / EPA / Hayoung Jeon

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