TikTok user-spend reaches $10.8 million in June 2019 with a 588 percent growth from last year
It was not exactly a good year for TikTok, especially when we look at its India market. But after looking at the recent stats, we can say that it is definitely not the case in other markets. The user-spend of TikTok has reportedly reached $10.8 million last month. It is a huge jump as compared to last year’s number of $1.6 million in June 2018.
According to Sensor Tower, the short video social app TikTok has also seen a growth of 588 percent from last year. The user-spend in the app increased by 19 percent from 9 million in May. As per the report, this growth is majorly because of the increased consumer base in China in the first half of 2019. The numbers have increased to 271 percent since January in China. Chinese users accounted for 69 percent of TikTok’s in-app revenue last month, up from 30 percent in June 2018.
The report also revealed that the TikTok users in the US contributed 52 percent of its IAP revenue in last June but this number dropped to 21 percent last month.
If we look at the Indian market, ByteDance owned TikTok is still in question regarding user privacy issues. After the ban was lifted from the app in India, it managed to get back up and get back in the market. But looks like, its privacy concerns have led to another issue. India’s IT ministry has asked Chinese video app TikTok, one of the world’s most popular, to explain how it collects user data and creates awareness for safe use of its platform, according to government officials and a document seen by Reuters.
Nevertheless, the company is trying to prove its commitment to the India market and has recently announced that it will be setting up its international data center in India soon.
TikTok is also working on several updates to up its game in the market. It is reportedly working on implementing a new feature inspired by Facebook-owned Instagram. This new feature happens to include a grid-like UI, an account switch option and a discover page apart from some other UI changes.
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