User Spend on TikTok App Grows 500%

The video app TikTok reached $9 million in earnings from in-app purchases going by figures published by Sensor Tower. The rise made a 500% growth from 2018 when the ad spend was $1.5 million.

The findings point to the growth in the app to attract significant revenue.
In January of this year, the app earned $6 million with users spending 50% more than they did last year.

iOS users in China contributed the most to the $9 million recorded in may – 65%.

Meanwhile, in the US, App Store and Google Play users contributed $2 million. The most users of the app are from India, but the country accounted only for 0.5$ of the revenue recorded in May.

App installs went up 27% in the month with India accounting for 53% of new installs.

The app has faced a rebound because the government of India had a ban that cost it 15 million new users.

Meanwhile, app installs decreased by 20% in January.

The app is expected to exceed $100 million in revenue by June this year.

https://www.businessofapps.com/news/tiktok-in-app-user-spend-hits-500-growth-milestone/

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