TikTok tops revenue chart! Global consumer app spending is expected to reach $133 billion

The economic revenue generated by apps hit a new record again in 2021. According to Sensor Tower 's latest 2021 Global App Ecosystem Review, the number of first-time app installations grew to 143.6 billion during the year. Consumer spending through apps grew 19.7% year-on-year to $133 billion.

According to the report analysis, the impact of the epidemic has forced consumers to work from home, shop online, contact friends through software, etc. The increase in entertainment activities and online teaching and office behaviors has prompted the use of applications and related spending from 2020 to the present.

Sensor Tower said that global spending of $133 billion included $85.1 billion in App Store spending, a 17.7% increase from 2020; while Google Play spending was $47.9 billion, up 23.5% from 2020.

Among them, in addition to games, TikTok became the application with the highest revenue in the world in 2021. In the first 11 months of 2021, revenue exceeded US$2 billion, and it is predicted that it will reach US$2.3 billion by the end of the year.

Although downloads have declined in 2021, TikTok is still the most downloaded app in terms of overall data, with 745 million installations worldwide in 2021. It is also the number one app in terms of downloads on the App Store, while YouTube and WhatsApp rank second and third respectively.

TikTok is not only developing rapidly itself, but also driving the development of related software.

CapCut, launched in April 2020, is TikTok's editing tool. According to App Annie 's latest survey, CapCut ranks first in the "Breakthrough App Spending" result. This shows that the app has made a breakthrough since its launch. MX TakaTak , launched in India , ranks second. This app copied TikTok's video model and has gained high popularity locally.

Short videos cannot be inserted with ads due to their length and other factors, so the platform needs to find other ways to monetize. In the case of TikTok, much depends on the platform's ability to promote e-commerce and brand transactions for creators. TikTok can ensure that video creators are paid, so more creators are encouraged to use it, thereby attracting more users and fans. In turn, for brands and businesses, more traffic and attention can be obtained.

According to various data, TikTok is currently in a favorable position for development and maintains a growth momentum, which can bring opportunities to more creators and businesses.

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