New record: TikTok earned $6 billion from users in 2024
TikTok , including its Chinese counterpart Douyin, became the first non-gaming app to reach $6 billion in annual in-app purchase (IAP) revenue in 2024. TikTok also recorded a record $1.9 billion in IAP revenue in the fourth quarter of last year.
February 26, 2025 05:33
Over $1.5 billion raised in one year
According to a new report , among non-gaming apps, only YouTube and Google One subscriptions managed to surpass TikTok's Q4 IAP revenue for the entire year of 2024.
But with $6 billion in IAP revenue for the full year, TikTok earned more than twice as much as any other app or game in 2024.
For example, Monopoly GO earned $2.6 billion in IAPs last year, ranking second.
TikTok's annual IAP revenue showed significant year-over-year growth in 2024. It increased by over $1.5 billion from $4.4 billion in 2023.
However, TikTok was only second in terms of downloads in the fourth quarter of 2024. Instagram took first place in this indicator. WhatsApp, Facebook and Temu followed, making up the top five.
How is TikTok different from Douyin?
It's important to note that comparing TikTok to other apps is a bit uneven, as it includes a separate Chinese sister app, Douyin.
Although both apps are owned by the same corporation, ByteDance, they offer different experiences.
Douyin's content is tailored to a Chinese audience. It is characterized by tighter controls due to Chinese regulations and a greater focus on e-commerce.
Both apps focus on short videos, but TikTok is more geared towards an international audience.
The importance of TikTok to the creator economy
In the United States, TikTok has returned to app stores after President Donald Trump postponed a deadline to ban TikTok from the US market due to national security concerns.
The executive order extended the ban for 75 days, and Trump hinted that it could be extended if necessary.
TikTok's revenue has reaffirmed how important the app has become to the creator economy.
Users spend real money to buy creators virtual gifts that can later be redeemed for cash, and TikTok keeps 50 percent of the payout.
The short-form video app has already set several revenue records, including in 2023 when it became the first non-gaming app to reach $10 billion in total user spending.
