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. 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. Among non-games, only YouTube and Google One’s subscription were able to surpass TikTok’s fourth-quarter total in the whole calendar year, the report said. With its $6 billion in IAP revenue, TikTok generated more than double the revenue from any other app or game in 2024. Monopoly GO, for example, came in at $2.6 billion over the past year, earning second place. TikTok’s annual IAP revenue in 2024 represented a significant year-over-year increase, as well; it’s up from $4.4 billion in 2023, the report noted. By downloads, however, TikTok was only No. 2 in Q4 2024, with Instagram at No. 1. It was followed by WhatsApp, Facebook, and Temu, roundi ... Read full article.