Get the latest tech news
TikTok (with Douyin) becomes first app to reach $6B in annual consumer spending
TikTok, including its Chinese counterpart Douyin, in 2024 became the first non-game app to reach $6 billion in in-app purchase revenue in a year.
TikTok, including its Chinese counterpart Douyin, in 2024 became the first non-game app to reach $6 billion in in-app purchase revenue in a year. According to a new report from app intelligence provider Sensor Tower, TikTok also generated a record high of $1.9 billion in gross in-app purchase (IAP) revenue in the fourth quarter of last year. Users spend real money to buy creators virtual gifts, which can then be cashed out as fiat currency, with TikTok 50% of the payout.
Or read this on TechCrunch
