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TikTok saw $2.3bn in consumer spending in 2021

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Beijing, Jan 14 (IANS) The global consumer spending in TikTok has only continued to grow. Users spent approximately $2.3 billion last year in the mobile app, which includes the iOS version of its Chinese localisation Douyin.

This figure represents 77 per cent year-over-year growth from $1.3 billion in 2020, reports Sensor Tower.

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Consumer spending in ByteDance’s short video platform reached $824.4 million in Q4 2021, more than double the $382.4 million generated during the same period in 2020.

Although China remains TikTok’s largest market in terms of consumer spending, its share has diminished significantly.

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In Q4 2021, 57 per cent of spending came from Chinese users, whereas China’s App Store represented 85 per cent of in-app spending in Q4 2020.

The US maintained its rank as the number two revenue-generator for TikTok, with its share in spending growing Y/Y.

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In Q4 2021, US consumers spent nearly $110 million in the app, representing 13 per cent of global revenue. This was 5 points higher than in Q4 2020 when the US was responsible for $29.6 million or about 8 per cent of worldwide spending.

In June 2020, the Indian government banned the popular short-form video app TikTok amid border tensions with China.

–IANS

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