TikTok is the undisputed king of apps for 2021.
According to Apptopia’s global list, TikTok had 656 million downloads in 2021.
It’s followed by Instagram (545 million)
Facebook (416 million)
WhatsApp (395 million)
Telegram (329 million)
Snapchat (327 million)
Zoom (300 million)
Messenger (268 million)
CapCut (255 million)
Spotify (203 million)
For some context, Clubhouse, one of the hottest app in 2021, had 9.6m monthly downloads at its peak.
Tiktok did an average of 54.7m per month.
That is nearly 5 times more than Clubhouse at its peak!
Very impressive indeed.
Tiktok made nearly $1.9 billion in 2020.
That is off the back of 700m users.
In 2021, it has 1 billion users.
We can only imagine how much more revenue they generated in 2021.
So how does Tiktok, a free to download, pure entertainment app used mainly by tweens, make money?
Simple.
They day-trade attention.
TikTok makes money in 3 ways: Advertising, In-App Purchases & E-commerce Offerings.
The app is free to download.
Short videos of people dancing, viral challenges, trending music, quick bite-sized nuggets that are high in entertainment value helps lure in more users.
Friends and families start signing up to see their friends and families.
All these contributes to the ever growing hype, virality and trends.
Everything in the Tiktok app is designed for users to continuously scroll and consumer more.
What do you do once you have a billion users and everyone’s eyeballs and attention on your app?
You switch on advertising and other in-app purchases.
It is the modus operandi of any social media platform.
You are the data.
Tiktok makes money from the companies and advertisers who wants your data and attention.
Still, it is not easy running a platform like Tiktok, handling a billion users, keeping the app alive, managing everything from advertisers to regulators.
The more interesting question would be: Do you think Tiktok will retain its title again in 2022?
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